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☆ Embraer maintains 2023 outlook but deliveries seen at low end of guidance
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

An Embraer logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. Embraer earlier in the day reported third-quarter adjusted net income of $32.9 million, up 34% from a year earlier, with net revenue jumping 38% in the period to $1.28 billion. Embraer delivered 43 aircraft in the quarter that ended in September, up 30% from the same period of 2022, including 15 commercial and 28 executive jets. CEO Francisco Gomes Neto told Reuters last month that the firm was confident it would meet its outlook for aircraft deliveries in 2023, seen growing by about a quarter, and expects to be able to maintain that pace next year. ($1 = 4.9007 reais)Reporting by Gabriel Araujo; Editing by Louise Heavens, David Goodman, Chizu Nomiyama and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Antonio Carlos Garcia, Garcia, TD Cowen, Cai von Rumohr, Francisco Gomes Neto, Gabriel Araujo, Louise Heavens, David Goodman, Chizu Nomiyama, Jan Harvey Organizations: Embraer, European Business Aviation Convention, REUTERS, SAO PAULO, EMBR3, Boeing, Airbus, Reuters, Thomson Locations: Geneva, Switzerland

☆ Brazil's Embraer posts 34% profit jump, maintains outlook
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

An Embraer logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsSAO PAULO, Nov 6 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday reported a third-quarter adjusted net income of $32.9 million, up 34% from a year earlier, and reiterated its outlooks for the full year despite ongoing supply chain issues. "We have a big challenge for deliveries in the fourth quarter, but as we demonstrated in the fourth quarter of 2022, we are prepared for it," Chief Financial Officer Antonio Carlos Garcia told a conference call with analysts. Embraer's net revenue jumped 38% in the third quarter to $1.28 billion, the firm said, noting it managed to post double-digit revenue growth across all its four units - which also include defense & security and services & support. ($1 = 4.9007 reais)Reporting by Gabriel Araujo Editing by Louise Heavens, David Goodman and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Antonio Carlos Garcia, Francisco Gomes Neto, Gabriel Araujo, Louise Heavens, David Goodman, Chizu Organizations: Embraer, European Business Aviation Convention, REUTERS, SAO PAULO, EMBR3, Boeing, Airbus, Reuters, Thomson Locations: Geneva, Switzerland

☆ Honeywell sees steady demand for business jets over the next decade
▼ + stars: | 2023-10-16 | by ( Shivansh Tiwary | ) www.reuters.com time to read: +2 min

A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 15 (Reuters) - Global demand for new business jets is expected to stay strong over the next decade, Honeywell (HON.O) said on Sunday, as the engine maker projected deliveries of about 8,500 new planes through 2033. Private aviation witnessed a surge in newcomers, both in users and buyers, after the COVID-19 pandemic lifted demand for private flying as the wealthy took control of their travel. The flight activity is anticipated to stabilize in 2024 and grow in 2025, according to Honeywell. New users in business aviation have also increased demand by 500 aircraft and 6% more flights over the next 10 years.

Persons: Denis Balibouse, Heath Patrick, Shivansh, Shilpi Majumdar Organizations: Honeywell, European Business Aviation Convention, REUTERS, Global Business Aviation, Private, Bombardier, General Dynamics, Gulfstream, Honeywell Aerospace, Thomson Locations: Geneva, Switzerland, Americas, Bengaluru

☆ Honeywell to realign business segments to boost growth
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +1 min

A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsOct 10 (Reuters) - Honeywell International (HON.O) is restructuring its business operations to three segments down from four to boost sales growth and reallocate capital, the industrial conglomerate said on Tuesday. "This simplified structure will enable Honeywell to realize synergies that will accelerate our innovation playbook," Chief Executive Officer Vimal Kapur said. Honeywell said its results for the third quarter would be in line with previously issued guidance ranges on its aviation business performance. Honeywell said its new segmentation would take effect from the first quarter of 2024.

Persons: Denis Balibouse, Vimal Kapur, Pratyush Thakur, Pooja Desai Organizations: Honeywell, European Business Aviation Convention, REUTERS, Thomson Locations: Geneva, Switzerland, Charlotte, North Carolina, Bengaluru

Russian authorities said Prigozhin was listed as a passenger on a private jet that crashed on Wednesday evening, killing all those onboard. Russia's TASS news agency said the plane was a Brazilian Embraer jet. Embraer (EMBR3.SA) on Wednesday said it was aware of a Legacy 600 plane crash in Russia, but that did not have further information about the case. Flightradar24 online tracker showed that the Embraer Legacy 600 (plane number RA-02795) said to be carrying Prigozhin had dropped off the radar at 6:11 p.m. local time (1511 GMT). The Legacy 600 entered service in 2002, according to International Aviation HQ, with almost 300 produced until production ceased in 2020.

Persons: Denis Balibouse, Wagner, Yevgeny Prigozhin, Prigozhin, Allison Lampert, Gabriel Stargardter, Rosalba O'Brien, Josie Kao Organizations: Embraer, European Business Aviation Convention, REUTERS, International Aviation, Russia's TASS, Brazilian Embraer, EMBR3, Thomson Locations: Geneva, Switzerland, Russia, Brazilian, Brazil, United States

[1/2] A Shell logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. His more cautious approach to the energy transition marks a change in tack from his predecessor Ben van Beurden who introduced the carbon reduction targets and the energy transition strategy. It is also exiting its European power retail businesses, which were seen only a few years ago as key to its energy transition. At the same time, Shell reported record profits of $40 billion last year on the back of strong oil and gas prices. Sawan previously flagged that the 2021 target to cut oil output by 20% the end of the decade was under review.

Persons: Denis Balibouse, Sawan, Wael Sawan's, Ben van Beurden, Shell, Bernard Looney, Lucas Herrmann, Herrmann, Ron Bousso, Elaine Hardcastle Organizations: European Business Aviation Convention, REUTERS, Shell, LONDON, BP, Reuters Graphics Reuters, U.S, Exxon Mobil, Chevron, Investors, Thomson Locations: Geneva, Switzerland, New York, Shell, Lebanese, Namibia, London

The European Business Aviation Convention & Exhibition (EBACE), hosted in Geneva, kicks off on Tuesday and brings together everyone from brokers, planemakers to engine producers. CO2 emissions from private jets in Europe grew by 31% between 2005 and 2019, according to environmental group Transport and Environment. Protesters are expected to gather on Tuesday outside the conference location in Geneva to highlight the rising number of private jet flights amidst a worsening global climate crisis. "The big innovations are usually deployed first in our industry," Kok said. Business jet flights have dropped in Europe by around 6% compared with the same time in 2022, WINGX data showed.

☆ U.S. private jet buyers seek distressed planes in early sign of turbulence
▼ + stars: | 2023-01-24 | by ( Allison Lampert | ) www.reuters.com time to read: +5 min

[1/2] A Gulfstream logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. From preowned planes selling more gradually to flattening business jet traffic, demand is beginning to moderate, aviation lawyers, brokers and analysts said. Investors will be watching for clues when Gulfstream-maker General Dynamics Corp (GD.N) and Cessna business jet maker Textron Inc (TXT.N) report earnings on Wednesday. Planemakers rarely disclose cases of distressed planes, but argue they can easily resell unwanted models. Some buyers also scrambled late last year to find distressed planes to qualify for favorable taxation rules.

☆ Shell to pay 15 mln euros in settlement over Nigerian oil spills
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

[1/3] A Shell logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. REUTERS/Denis BalibouseCompanies Shell PLC FollowAMSTERDAM, Dec 23 (Reuters) - Shell (SHEL.L) will pay 15 million euros ($15.9 million) to communities in Nigeria that were affected by multiple oil pipeline leaks in the Niger Delta, the oil company on Friday said in a joint statement with the Dutch division of Friends of the Earth. The money will benefit the communities of Oruma, Goi and Ikot Ada Udo in Nigeria, that were impacted by four oil spills that occurred between 2004 and 2007. "The settlement is on a no admission of liability basis, and settles all claims and ends all pending litigation related to the spills," Shell said. After the appeals court's final ruling last year, Shell said it continued to believe the spills were caused by sabotage.

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