Embraer Skyward Soar: Embraer’s CEO, Francisco Gomes Neto, unveils the aerospace company’s optimistic outlook, projecting a robust 20% revenue growth in 2024. While an official financial forecast is pending until early next year, Gomes Neto hints at ambitious targets for commercial and business jet deliveries, potentially reaching 80 and 140 units, respectively. The company, having introduced several new jets since 2017, now enters a “harvest season” focused on revenue expansion and securing new orders.
Gomes Neto emphasizes the potential for Embraer to achieve $10 billion in annual revenue by 2030, excluding its electric air taxi subsidiary, Eve Holding. With Eve in the mix, the revenue projection could soar to an impressive $14 billion over the same timeframe. Gomes Neto underscores the upcoming years’ emphasis on enhancing financial performance, laying the groundwork for potential discussions about new airplanes in the near future.
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While Gomes Neto navigates the company toward ambitious revenue goals, Embraer faces challenges tied to the production quality crisis involving geared turbofan engines from Pratt & Whitney. Despite the engine-related hurdles, Embraer assures that sales have not been significantly impacted, with Pratt & Whitney now producing engines unaffected by previous issues. The company’s E2 commercial jets, powered by the troubled engines, present both challenges and opportunities, as Embraer’s Portuguese subsidiary, OGMA, gears up to open a maintenance facility for overhauling GTF engines in April.
Executives emphasize that the engine troubles haven’t derailed sales, and Embraer remains optimistic about Pratt & Whitney’s adjusted engine production. However, challenges loom as GTF engine deliveries lag behind in 2023, putting pressure on Embraer’s E2 delivery schedule. Gomes Neto remains cautiously optimistic about Pratt & Whitney’s 2024 engine delivery schedule, acknowledging some inherent risks. As Embraer navigates these complexities, the aerospace giant sets its sights on a future marked by significant growth and continued innovation.