Bizjet Division Boosts Embraer Results

Brazilian aircraft manufacturer Embraer has announced that its profits dropped 36 percent last year, to $248.5 million from $388.7 million in 2008. Net sales totaled $5.47 billion, down from $6.34 billion in the previous year. Although the company's commercial aircraft sales fell, however, its business aviation division did well: Despite some delivery postponements and cancellations, net sales in the division were $896 million, up nearly $20 million from 2008. Moreover, the manufacturer delivered 115 business jets (18 Legacy 600s, three Lineage 1000s, 93 Phenom 100s and the first Phenom 300), nearly triple the 36 it shipped in 2008. Embraer said the division also increased its market share to 6.4 percent from 4.1 percent in 2008, based on total revenues; and from 3.3 percent to 14 percent, based on delivered aircraft. The company expects net sales of its business jets to climb to $1.1 billion this year and anticipates shipping 137 of them by year-end.