Embraer bags fresh Binter, American Airlines orders for E-Jets

Brazilian planemaker Embraer Tuesday notched fresh orders from American Airlines and Spanish carrier Binter for its E-Jets in deals announced at the Paris Airshow that are seen totaling about $1b. The new firm orders come amid an influx of deals at the world's largest air show, which is at Le Bourget for the first time in four years and took off on Monday with Airbus bagging a record 500-plane transaction. Embraer, the world's third-largest planemaker after Airbus and Boeing, said the new orders follow expansion goals of regional carriers such as Binter and Canada's Porter Airlines, underscoring positive momentum for its planes in global markets. Despite the new deals, shares of Embraer slipped more than 4% in midday trading in Sao Paulo, making it the biggest faller on the benchmark Bovespa stock index, as analysts at JPMorgan said the firm had a "slow start" in Paris. "We were expecting Embraer to announce at least 30 new orders during the event," they said. "We believe that additional new orders could be announced in the coming days, as in the last Paris Air Show Embraer divided its announcements into 3 days." Binter has placed a firm order for six E195-E2 aircraft, marking its fourth order of E2 jets to bring its fleet to 16 when delivered. The deal was valued at $504.7m at list price, with deliveries commencing in the second half of 2024. The carrier's president Rodolfo Nunez touted the aircraft as "a game changer" for the company and "the perfect aircraft to lead our continued growth", citing better-than-expected fuel burn and maintenance. "The best orders are repeat orders," Embraer's Chief Commercial Officer for commercial aviation Martyn Holmes said. <br/>