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Fri, Aug. 29, 5:35 PM
Thu, Aug. 28, 7:59 AM
Tue, Aug. 12, 6:55 AM
- Embraer (NYSE:ERJ) has raised its outlook for executive jet sales in North America over the next decade, and reduced its global sales forecast, marking the importance of the U.S. market for its business jet recovery.
- The planemaker estimates 4,620 business jets to be sold for a total $120B in the North American market from 2015 to 2024, up from the 4,530 planes it announced during its 2014-2023 forecast.Embraer also trimmed its worldwide outlook to 9,235 aircraft sold in the next decade, from 9,250 in last year's ten-year estimate.
Fri, Aug. 1, 11:22 AM
- Morgan Stanley removes Petrobras (PBR -1.4%) from its newest focus list of 10 high-conviction stocks in Latin America, believing the market has priced in too much optimism for political change.
- The firm says its recent survey suggests both the stock and the Bovespa index are pricing in a 52% chance of macro policy change, so the risk/reward of the stock is similar to the market benchmark - i.e., no relative performance leverage to the upside.
- Stocks on the list include Gerdau (NYSE:GGB),Grupo Televisa (NYSE:TV), Ambev (NYSE:ABEV), Embraer (NYSE:ERJ), Cemex (NYSE:CX) and Copa Holdings (NYSE:CPA).
Thu, Jul. 31, 6:44 AM
Thu, Jul. 17, 10:37 AM
Tue, Jul. 15, 9:54 AM
- Embraer (ERJ -0.2%) has received a $1.9B order for 30 E-Jets from Azul, Brazil's third largest airline. Azul has an option to also acquire another 20 jets, which would bring the contract value up to $3.1B.
- Azul is looking to increase its fleet capacity, as it plans on flying to the U.S. and expects more government subsidies for regional flying.
- The first delivery is expected in 2019.
Mon, Jul. 14, 10:15 AM
- Embraer (ERJ +4.6%) has agreed to sell 50 second-generation planes valued at almost $2.4B to Trans States Holdings. The deal includes an option to purchase 50 additional aircraft, which could bring the value of the deal to as much as $4.7B.
- Trans States Holdings controls carriers Compass Airlines, GoJet Airlines and Trans States Airlines.
Thu, May. 1, 8:46 AM
- Iran would purchase 400 new aircraft over 10 years if sanctions were lifted, the country's top aviation official reportedly says. The country has been banned from purchasing new Western airliners since the 1970s.
- Of Iran's 250 commercial planes, about 150 are flying and the rest are "not functional" because of a lack of spare parts. The average age of the nation's commercial fleet is 22 years.
- Under the recent deal with the international community over its nuclear program, Iran is allowed to acquire spare parts and services on a limited basis.
- Companies that could benefit from Iran being allowed to buy aircraft include Boeing (BA), Airbus (EADSY), Bombardier (BDRAF), Embraer (ERJ), GE (GE) and Rolls-Royce (RRCEF).
Wed, Feb. 26, 8:18 AM
- Embraer (ERJ) net profit more than doubles to $264.5M, above estimates of $213M.
- Revenue of $2.3B compares with $1.9B a year earlier and tops forecasts of $2.19B.
- Embraer delivers 32 commercial and 53 executive planes.
- Backlog +46% to $18.2BB.
- Embraer forecasts 2014 revenue of $6-6.5B vs $6.17B last year and consensus of $6.51B. The company expects growth in Defense & Security, and deliveries of 92-97 commercial jets, as well as of 25-30 large jets and 80-90 light jets at its executive jets business.
- Embraer intends to increase investment to $650M from a 2013 budget of $580M.
- ADRs +2.9%. (PR)
Wed, Feb. 26, 6:48 AM
Thu, Feb. 13, 7:48 AM
Dec. 12, 2013, 9:11 AM
Nov. 3, 2013, 2:06 AM
- Authorities in the U.S. and Brazil are reportedly looking into whether Embraer (ERJ) bribed officials in Argentina and the Dominican Republic in order to win deals worth up to a total of $292M.
- The investigation is among Brazil's first into alleged corruption by a domestic company overseas. Embraer disclosed in 2011 that it was under investigation by the U.S. for its practices when trying to secure orders for aircraft.
Oct. 31, 2013, 1:14 PM
Oct. 30, 2013, 9:15 AM
- In an effort to reduce expenses by transitioning to planes that use less fuel and carry more passengers, JetBlu (JBLU) has deferred delivery of 24 Embraer (ERJ) E190s and placed an order for 35 Airbus (EADSF) A321s, Bloomberg says.
- The deal is valued at around $4B.
- The move is indicative of "a trend we are seeing in the industry as airlines seek to reduce unit costs," Cowen says.
- For its part, ERJ says the move is simply an example of "natural fleet management based on market opportunities and the company’s business plan."
- The outlook for the E190 is still positive at JBLU, as CFO Mark Powers says "there’s always a place for a good 100-seater in [the] fleet." Similarly, ERJ notes that "there has been no order cancellation but a restructuring of deliveries overtime.”
ERJ vs. ETF Alternatives
Embraer S.A. is a manufacturer of commercial aircraft. Its commercial aviation business, includes aviation-related services. The Company designs, develops and manufactures a variety of commercial aircraft.
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