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Embraer - Empresa Brasileira de Aeronáutica SA - is based in São José dos Campos, Brazil, and was founded in 1969 as a government aerospace initiative and then privatised on 07-Dec-1994. On 31-Mar-2006 the majority of Embraer shareholders approved Embraer’s capital restructuring proposal, which consists of a simplified capital structure composed of one type of shares (common shares).
The Company focuses its activities on three business areas and markets:
- Commercial Aviation;
- Executive Aviation;
- Defense Systems.
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Azul CEO says gov't regional aviation subsidies to go toward new routes; can cut costs with Embraers
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With the Farnborough International Airshow over, the major aircraft manufacturers have reported their July orders and deliveries and 2014 is shaping up as another exceptionally strong year for the global airliner market.
Despite the talk of an aircraft ordering bubble, demand remains strong despite some regional weaknesses, order backlogs continue to hit record highs and the major problem for manufacturers is getting their aircraft into the hands of their customers at rates that satisfy them.
Competition in Myanmar is set to intensify further as several of the country’s airlines pursue ambitious fleet expansion. Two Burmese carriers used the recent Farnborough Airshow to order new aircraft, putting the Myanmar market in the spotlight as local carriers attempt to capture some of the rapid growth which so far has mainly benefitted foreign airlines.
Domestic market leader Myanma Airways has committed to acquiring at least six ATR 72-600s, adding to orders the government owned carrier placed in early 2014 with GECAS for 10 737s. Meanwhile one of its eight privately owned local competitors, Air Mandalay, has committed to at least six MRJ90 regional jets.
Myanmar’s airline sector currently consists of nine airlines, including eight domestic operators, with a combined fleet of just over 40 aircraft. The total fleet in Myanmar could double over the next few years as several existing carriers expand and new airlines enter the market. But such rapid growth may not be sustainable and consolidation seems inevitable.
Airbus and Boeing typically grab the headlines at the big airshows, but regional aircraft manufacturers had a particularly strong first day at the bi-annual Farnborough Airshow.
The smaller aircraft manufacturers – Embraer, Bombardier, Sukhoi, ATR, COMAC and Mitsubishi Aircraft Corporation – collectively announced firm and tentative orders for nearly 130 jets and turboprops, as well as options for another 120 aircraft.
With all orders and options included, the deals are valued at more than USD7.8 billion.
A couple of months after acquiring regional airline CityJet from Air France-KLM, new owner Intro Aviation faces a crucial decision about replacing CityJet's fleet of ageing BAE regional jets. This is likely to provide the key to turning around the heavily loss-making airline, whose main base is at London City. In spite of this being a high yield market from which to operate, and in spite of capacity cuts, the final years under Air France-KLM ownership were characterised by weakening unit revenues.
Decisions about rebuilding the network in a manner better suited to CityJet's market, and better able to bolster unit revenues, will depend to a great extent on its final choice of aircraft.
Moreover, the fleet choice should also have a considerable bearing on unit costs in the future. With three manufacturers in the running (Bombardier, Embraer and Sukhoi), the airline may shortly be able to provide a clearer view of how its negotiations are progressing.
Kazakhstan’s Air Astana has selected the A321neo as a replacement for its ageing 757 fleet, which is used on medium/long-haul routes to Asia and Europe. The carrier plans to lease 11 new-generation A321neos for delivery from 2017 as well as one A320neo for delivery in 2016, making it the latest customer for Airbus’ re-engined narrowbody product.
But Air Astana is also in talks with Boeing over the US manufacturer’s plans for a 757 replacement. Air Astana is interested in being an early customer for the new 180 to 210-seat narrowbody aircraft, which would replace its A321neos in the middle part of the next decade.
Air Astana is a relatively small carrier, operating a fleet of only about 30 aircraft, and generally does not capture significant attention from the manufacturers. But its fleet decisions offer a glimpse at how airlines globally may handle replacing the 757. Production of the 757 ceased in 2004 but a suitable replacement has not yet emerged, forcing carriers such as Air Astana with several thin six to eight hour routes to continue operating the type.
After turning a bleak performance in 1Q2014, executives at United Airlines are continuing their pledges of improvement, declaring year-over-year gains in quarterly earnings going forward with lofty earnings targets for 2017 and beyond.
United is also disclosing more details regarding its philosophy on debt management and shareholders returns, the latter of which is not likely to occur until 2015 at the earliest. Unlike some of its US airline peers, an investment grade rating does not appear to be the ultimate, near-term prize for United. Instead the airline has set a debt target that allows it to strike a balance between balance sheet management and shareholder returns.
The airline during the past couple of years has often made declarations of improvements in its fortunes, only to miss those targets. So any goals United outlines are understandably met with some level of scepticism.
But with overall demand in the US market remaining solid and United’s own ample opportunity for improvement, perhaps an upturn in 2Q2014 is a distinct possibility.