Embraer recorded a 17% slide in executive jet shipments in 2018 on the back of prolonged weakness in the business aviation market.
For the 12 months ended 31 December the Brazilian airframer delivered 91 aircraft compared with 109 examples in 2017, missing its delivery target of between 105 and 125 jets.
Revenues for the division declined by 26% in 2018 to $1.1 billion, with Embraer falling short of its $1.35 billion to $1.5 billion revenue target for the period.
At an investors meeting on 16 January at the New York Stock Exchange, Embraer attributed the weaker output to a slower than expected recovery in the global business aircraft market, and its decision to focus on profitability and price at the expense of higher volumes
This cautious strategy is continuing into 2019, with Embraer predicting output of between 90 and 110 Phenom 100/300 light jets, Legacy 450/500 midsize and Lineage 1000E airliners. This year will also mark the service entry of two new midsize-category models – the Praetor 500 and 600, which Embraer launched to huge fanfare in October 2018.
Both models have been selling well, the airframer says and deliveries are scheduled to begin in the second half of the year.