Aircraft
Embraer Lowers Projections for Business Jet Deliveries
Company says it will cut shipments in line with an expected 8 percent decline industrywide

Expectations of a protracted downturn in the business jet market have prompted Embraer to lower its delivery projections for this year by some 8 percent. Having so far delivered 49 business jets during the first six months of the year, the company now expects to ship between 70 and 80 light jets by the end of 2016, compared with its previous projection of between 75 and 85, and some 35 to 45 large jets, compared with its earlier estimates of between 40 and 50. Consequently, the company now expects revenues generated by its Executive Jets division to total $1.6 billion to $1.7 billion, compared with its previous projection of $1.75 to $1.9 billion.