Brazil’s Embraer SA (EMBR3.SA) booked firm orders for 18 planes from five different airlines in deals worth about $1 billion at the Paris Airshow on Tuesday, with demand focused mostly on its next-generation E2 narrowbody jets.
The biggest deals came from undisclosed clients, one of which ordered 10 E195-E2 jets, worth $666 million at list prices, and agreed to purchase rights for 10 E190-E2 aircraft. The other unnamed client agreed to buy 20 E190-E2 in a deal pending final paperwork before it becomes a firm order, Embraer said in a securities filing.
The new orders added to healthy demand for E2 models entering service in 2018 and 2019, but may not resolve Embraer’s struggle to fill its production schedule for current models next year.
Embraer shares opened 2 percent higher in Sao Paulo before slipping to a 2 percent loss in midday trading.
Firm orders for Embraer’s current E-Jet lineup were smaller, with Japan Airlines Co Ltd (9201.T) adding one, Belavia Airlines and Air France KLM SA (AIRF.PA) taking two each and Japan’s Fuji Dream Airlines Co Ltd ordering three, with purchase rights for three more.
(Reporting by Brad Haynes in Sao Paulo and Silvio Cascione in Brasilia; Editing by Marguerita Choy)