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Thu, Aug 06, 2009

Embraer Grows Phenom Business

But Larger Aircraft Sales May Suffer

Embraer may show a higher sales volume in the coming months, but analysts say that could be from customers buying the lower-priced Phenom 100 jets, while sale of the larger E170 and E190 may lag.  The difference in price is more than $24 million per aircraft.

Bank of America analyst Ronald Epstein said in a written document that Embraer may deliver as many as 17 jets in July, which would represent a 55 percent growth from last year. But, he said, 62 percent of the deliveries in the second half of 2009 are expected to be the smaller Phenom jet.

Bloomberg radio reports that Embraer has been raised to 'neutral' by both Bank of America and Credit Suisse AG.  Both banks had previously listed Embraer as 'underperform'.

FMI: www.embraer.com

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