Brazilian aerospace manufacturer Embraer has released its financial results for the first quarter of 2022, revealing a smaller net loss.
In Q1 2022, Embraer reported a net loss attributable to shareholders of US$31.7 million. This compares to a net loss attributable to shareholders of US$89.7 million in Q1 2021.
During the first three months of 2022, Embraer delivered a total of 14 aircraft, including six commercial and eight executive jets. Commercial aircraft deliveries in Q1 2022 included four Embraer E175s and two Embraer E195-E2s. Meanwhile, executive jets included five Phenom 300s, two Praetor 600s, and one Phenom 100 jet.
Embraer also revealed that its firm order backlog of 315 aircraft totaled US$17.3 billion as of March 31, 2022. Embraer’s firm order backlog has reached the highest level since the second quarter of 2018 and was driven by solid order activity.
The manufacturer’s commercial aviation firm order backlog currently consists of 166 E195-E2s, 143 E175s, three E190-E2s, and three E190 passenger jets.
In its Q1 2022 report, Embraer confirmed the launch of E190 and E195 passenger to freighter (P2F) conversions. The initiative came as Embraer saw a gap in the air freight market between turboprop and larger narrowbody cargo aircraft.
The full freighter conversion for all pre-owned E190 and E195 jets is expected to be completed in early 2024. Both E190 and E195 freighter conversions will take place at Embraer’s facilities in Brazil.