News
Embraer narrows loss and Boeing delivers first B777-300ER to lessor Intrepid
November 4th 2016
In the third quarter ended September 30, Brazilian manufacturer Embraer posted a net loss of $33.7 million, reduced from a $105.5 million loss in year-ago period, on revenueof $1.5 billion. Read More » It was a 17.9% year-on-year improvement, but operating expenses grew 16%, to $1.2 billion.
Embraer’s commercial aviation backlog is 479 aircraft, valued at $21.4 billion, down $1.4 billion compared with last year’s third quarter. The regional aircraft maker delivered 29 commercial and 25 executive jets during the quarter, up 38% year-on-year.
In other OEM updates, Boeing and Intrepid Aviation on Monday celebrated the delivery of the lessor’s first direct ordered Boeing airplane, a B777-300ER. It will be leased and operated by Philippine Airlines (PAL). Intrepid has ordered four -300ERs from Boeing and is scheduled to deliver a second B777 to PAL by year-end.
“We are excited to accept our first new aircraft from Boeing. This 777 delivery to Philippine Airlines underlines Intrepid’s continuous focus on investment into new aircraft on long-term leases with well established, strong airlines worldwide,” said Intrepid CEO, Olaf Sachau. “Already a valued Intrepid customer, we are particularly delighted to bring this 777-300ER to the flag carrier of the Philippines during their 75th anniversary year – the longest, continuously operating airline in Asia,” said Doug Winter, Intrepid’s president and CCO.
Boeing has had a successful past few weeks, securing a major Qatar Airways order and confirming various orders from China. Last week, the Chicago-headquartered company received a major boost to its struggling B747 program when UPS confirmed an order for 14 B747-8Fs, plus 14 options.
