In the third quarter 2011 Embraer Executive Aviation delivered a total of 17 light jets and one large jet.
Third Quarter 2011 commercial and executive aircraft revenues reached US$1,363.6 million and gross margin reached 21.2%, as a result of the mix in revenues and products. The firm order backlog increased to US$16 billion, as a result of sales activities in 3Q11, mainly in executive aviation.
Although the US corporate profits indicator, which is an important market driver, has exceeded pre 2009 recession levels, the used aircraft market (price and number of used aircraft for sale) continues to offer some barriers to the executive aviation market recovery.
Furthermore, as a result of the continued challenges observed in the executive aviation segment, the company may not achieve its 2011 revenues projection for this segment. In spite of the current environment, the company is net order positive as of 30 September 2011.
The highlight was the signing, at the beginning of October, of an agreement for the purchase of 13 Legacy 650 jets by China's Minsheng Financial Leasing as the first step to fulfill the Memorandum of Understanding (MoU) celebrated in July for up to 20 aircraft.
The assembly of the Phenom 100 at Melbourne, Florida progresses on schedule with the interior installation and painting of the first Phenom 100, the wing mate of the second aircraft and the third aircraft subassemblies already on site in the plant. First flight of US-assembled Phenom 100 is scheduled to occur later this year. The adjoining Embraer customer center (ECC) has been completed and the Occupancy Certificate has been issued. The ECC will be fully functional in December this year.
The Legacy 500 executive jet programme continues to evolve. Three prototypes are currently in production. The wing and fuselage of the first prototype has been mated and systems installation is underway. Landing gear has been installed and electrical power in the aircraft has been turned on. The assembly and installation of the vertical and horizontal stabilizers, cabin door, rudder and elevator assemblies are being concluded. The second prototype's wing trailing edge and ot her structural components and systems are being assembled and the first structural segments of the third prototype are being finished.
Embraer's commitment to world class customer support is highlighted by the Company's expansion of its network of service centers. In August, Embraer announced the appointment of four new authorized service centers in Brazil and an operational expansion plan of its factory-owned service center in Brazil, including new services and certifications, a substantial increase in maintenance equipment, and larger facilities. In the same month, the announcement of a new service center in the Greater China region was made. In October it was disclosed that four new Authorized Service Centers for the Phenom jets in North America will join the Company's global network, achieving more than 55 owned and authorized service centers.
Third Quarter 2011 commercial and executive aircraft revenues reached US$1,363.6 million and gross margin reached 21.2%, as a result of the mix in revenues and products. The firm order backlog increased to US$16 billion, as a result of sales activities in 3Q11, mainly in executive aviation.
Although the US corporate profits indicator, which is an important market driver, has exceeded pre 2009 recession levels, the used aircraft market (price and number of used aircraft for sale) continues to offer some barriers to the executive aviation market recovery.
Furthermore, as a result of the continued challenges observed in the executive aviation segment, the company may not achieve its 2011 revenues projection for this segment. In spite of the current environment, the company is net order positive as of 30 September 2011.
The highlight was the signing, at the beginning of October, of an agreement for the purchase of 13 Legacy 650 jets by China's Minsheng Financial Leasing as the first step to fulfill the Memorandum of Understanding (MoU) celebrated in July for up to 20 aircraft.
The assembly of the Phenom 100 at Melbourne, Florida progresses on schedule with the interior installation and painting of the first Phenom 100, the wing mate of the second aircraft and the third aircraft subassemblies already on site in the plant. First flight of US-assembled Phenom 100 is scheduled to occur later this year. The adjoining Embraer customer center (ECC) has been completed and the Occupancy Certificate has been issued. The ECC will be fully functional in December this year.
The Legacy 500 executive jet programme continues to evolve. Three prototypes are currently in production. The wing and fuselage of the first prototype has been mated and systems installation is underway. Landing gear has been installed and electrical power in the aircraft has been turned on. The assembly and installation of the vertical and horizontal stabilizers, cabin door, rudder and elevator assemblies are being concluded. The second prototype's wing trailing edge and ot her structural components and systems are being assembled and the first structural segments of the third prototype are being finished.
Embraer's commitment to world class customer support is highlighted by the Company's expansion of its network of service centers. In August, Embraer announced the appointment of four new authorized service centers in Brazil and an operational expansion plan of its factory-owned service center in Brazil, including new services and certifications, a substantial increase in maintenance equipment, and larger facilities. In the same month, the announcement of a new service center in the Greater China region was made. In October it was disclosed that four new Authorized Service Centers for the Phenom jets in North America will join the Company's global network, achieving more than 55 owned and authorized service centers.
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