Brazilian aircraft manufacturer Embraer made deliveries of 75 aircraft in the fourth quarter of 2023, a figure that left it short of full-year goals for executive and commercial jets, reports Reuters.
The fourth quarter saw the company deliver 49 executive jets for a yearly total of 115, short of its guidance range of 120 to 130 jets. Commercial jets came closer, adding 25 units in the fourth quarter for a total of 64, just short of the guidance range of 65 to 70.
The world’s third largest aircraft manufacturer after Boeing and Airbus, Embraer said that while it “continued its sales momentum with sustained demand across its entire product portfolio,” ongoing supply chain delays led to a delivery shortfall.
The company previously announced supply chain issues as the cause of some third quarter deliveries being moved to the fourth. Much of the industry has faced similar problems, with both Boeing and Airbus seeing delivery shortfalls of their own.
Still, total deliveries for Embraer in 2023 were up 13 percent to 181, including two aircraft from its defence and security unit. Its firm order backlog also grew, up US$1.2 billion from 2022 to end the year at US$18.7 billion.
Financial analysts at JPMorgan took the shortfall in stride, noting that the backlog had “reached the highest level since 2018 with all segments showing a year-on-year increase.”