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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

SAO PAULO, June 30 (Reuters) - Power grids around the world are not yet ready for the so-called flying car, an executive with Brazilian start-up Eve Air Mobility (EVEX.N) told Reuters, adding that the electric aircraft maker is in talks with power providers to bridge the gap. Eve's Services & Operations Solutions Vice President, Luiz Mauad, said the nascent industry does face challenges when it comes to the power supply the electric aircraft needs to recharge. But he expressed optimism they would be overcome in time for Eve to meet its target of starting commercial operations in 2026. Mauad said Eve has been talking to global power generators and distributors about making infrastructure adequate for the electric vertical take-off and landing aircraft (eVTOLs), including the so-called vertiports they would take off from. "But there is still the 'final mile' challenge so that power can get to the vertiports."

Persons: Luiz Mauad, Eve, Mauad, Eve's, Gabriel Araujo, Rosalba O'Brien Organizations: SAO PAULO, Mobility, Reuters, Services, Operations, planemaker Embraer, EMBR3, Thomson Locations: Brazilian, Brazil, United States, India, France

The world's third-largest aircraft maker after Airbus (AIR.PA) and Boeing (BA.N), Embraer bagged 13 fresh orders for commercial jets at the Paris Airshow, falling short of market estimates and previous years' levels. The 13 new orders compared with 74 secured at Le Bourget in 2019 and 28 in Farnborough last year. They also lagged some upbeat market forecasts, including expectations by JPMorgan analysts for at least 30 orders. In Paris, investors were especially disappointed by the lack of orders from the booming Indian airline market, which handled an all-time-high 500-plane transaction to Airbus and new orders to Boeing. "We believe that most of the pre-event excitement has already been adjusted in share prices," said XP Investimentos, while also rates Embraer a "buy."

Persons: Le Bourget, Gabriel Araujo, Conor Humphries, Leslie Adler Organizations: SAO PAULO, Embraer, EMBR3, Airbus, Boeing, Paris, Le, JPMorgan, American Airlines, Royal, Salam Air, Thomson Locations: China, Farnborough, U.S, Paris, Royal Jordanian, New York

☆ Eve agrees on potential sale of up to 150 flying cars
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 20 (Reuters) - Electric aircraft maker Eve (EVEX.N), controlled by Brazil's Embraer (EMBR3.SA), said on Tuesday it has signed letters of intent for potential sales of its "flying car" to Voar Aviation, Nordic Aviation and Wideroe Zero. Under the new agreements, Eve said in a statement, Voar would operate its eVTOLs in Brazil's main metropolitan areas and popular tourist destinations, such as Sao Paulo, Florianopolis and Salvador. Wideroe Zero's parent Wideroe is already an Embraer customer for conventional jets, currently having three E190-E2 aircraft in its fleet. Its low-carbon unit envisions all domestic short-haul flights to be electric as part of Norway's goal of achieving carbon-neutral aviation by 2040. Reporting by Gabriel Araujo; Editing by Kirsten Donovan and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Eve, Norway's, Gabriel Araujo, Kirsten Donovan, Louise Heavens Organizations: SAO PAULO, Electric, Brazil's Embraer, EMBR3, Voar Aviation, Nordic Aviation, Wideroe, Nordic, Embraer, Thomson Locations: Brazil's, Sao Paulo, Florianopolis, Salvador, Scandinavia

SAO PAULO, June 19 (Reuters) - Electric aircraft maker Eve (EVEX.N) and Blade Air Mobility (BLDE.O) are expanding their partnership to integrate Eve's upcoming flying car into Blade's European route network, starting with France, the companies said on Monday. Eve is controlled by Brazilian planemaker Embraer (EMBR3.SA) and expects to start commercial operations of its vehicle in 2026. They did not say if the deal would involve new eVTOL purchases by Blade, whose current European operations include flying conventional helicopters between Nice and Monaco. "Extending our partnership with Eve underscores Blade's commitment to leading the transition from conventional to electric vertical aircraft," Blade Chief Executive Officer Rob Wiesenthal said. Eve CEO Andre Stein said he expected the extended partnership with Blade to allow the companies to combine expertise and resources to make travel more accessible and drive environmental improvements.

Persons: Blade, Eve, Rob Wiesenthal, Andre Stein, Azur, Gabriel Araujo, Steven Grattan, Jamie Freed Organizations: SAO PAULO, Electric, Blade Air Mobility, Brazilian, Embraer, EMBR3, Monaco, United Airlines, Royce, Heli, Thomson Locations: France, Paris, India, United States, Nice, U.S

☆ Here are Friday's biggest analyst calls: Apple, Netflix, Target, Tesla, Corning, Adobe, Meta & more
▼ + stars: | 2023-06-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Adobe to overweight from equal weight Wells said it's bullish on the company's AI opportunity. Morgan Stanley reiterates General Motors as overweight Morgan Stanley said GM and Tesla's charging agreement could be a game changer. Morgan Stanley reiterates Carvana as equal weight Morgan Stanley said it's getting a little more constructive on the stock after the company announced improved second-quarter guidance. " Loop reiterates Best Buy as buy Loop said Best Buy could be a long-term beneficiary of virtual reality after Apple announced its launch earlier this week. Morgan Stanley upgrades Corning to overweight from equal weight Morgan Stanley said in its upgrade of the glass company that it sees an attractive risk/reward.

Persons: Tesla, Wells, it's bullish, Morgan Stanley, KeyBanc, Key, Carvana, it's, Roth, Mgmt, Jefferies, Archer, EVEX, Ulta, Corning, Guggenheim Organizations: UBS, Motors, GM, Apple, Citi, Target, Walmart, Netflix, Apple Vision, Meta, Embraer, BMO, Microsoft, Nike Locations: WMT

Eve, controlled by aircraft manufacturer Embraer (EMBR3.SA), said it expects to start commercial operations of its fully electric vehicle in 2026. The concept, called an electric vertical take-off and landing vehicle, or eVTOL, has been dubbed a flying taxi. The completed wind tunnel tests are seen as key for certification by regulators, as well as future production and sales to buyers worldwide. The wind tunnel tests were completed in Switzerland using an eVTOL scale model, which the company said helped it investigate how components such as its fuselage and wings will perform in flight. "The Eve eVTOL is unlikely to be first to market, although the order pipeline provides runway to capture market share of the emerging eVTOL market," according to Jefferies analysts.

☆ JPMorgan says electric flying vehicles will be a $1 trillion market and it has a new favorite way to play it
▼ + stars: | 2023-03-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

There's a $1 trillion market opportunity for electric flying vehicles, and one player in particular — Eve — is positioned to take flight, according to JPMorgan. The company, which designs and produces electric vertical takeoff and landing vehicles (eVTOLs), has superior expertise since it was founded by Brazil-based jets manufacturer Embraer , analyst Marcelo Motta said in a note Wednesday. In September, United announced it agreed to buy 200 electric air taxis from the company and has options to purchase 200 more. Its total addressable market for passenger transportation could potentially reach $1 trillion by 2040 and would jump to $3 trillion when including cargo and military operations. That potential size exceeds the helicopter market of $35 billion a year and would have lower noise emission, lower operational costs and safety benefits, Motta said.

☆ Embraer's electric aircraft maker Eve 'on track' to start service in 2026
▼ + stars: | 2023-02-17 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Feb 17 (Reuters) - Electric aircraft maker Eve Holding Inc (EVEX.N) is "on track" to meet its goal of starting commercial operations in 2026, an executive said on Friday, and getting its aircraft certificated is the most immediate target. Eve is confident about the "robust project," which is backed by Embraer's expertise, said Mauad, reiterating the goal of starting operations in 2026. BNDES later announced it would grant Eve an additional 490 million reais ($94.47 million). Mauad acknowledged a consolidation process could happen in the sector, but noted Eve was still particularly focused on working through its partnerships. ($1 = 5.1871 reais)Reporting by Gabriel Araujo; Editing by Anthony Esposito and Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ India's Blade signs order for up to 200 electric aircraft from Embraer's Eve
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, Sept 27 (Reuters) - Brazil's Eve Holding Inc (EVEX.N) said on Tuesday that Blade India has signed a purchase order for up to 200 of its electric vertical take-off and landing (eVTOLs), allowing it to expand its urban air mobility ecosystem in the Asian country. A joint venture between Hunch Ventures and Blade Air Mobility (BLDE.O), Blade India will also collaborate with Eve - which is controlled by planemaker Embraer SA (EMBR3.SA) - on a three-month pilot project connecting passengers using helicopters, the company said in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

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