SkyWest, Lithuania deals lift Embraer at Paris Airshow
SAO PAULO/PARIS, June 18 (Reuters) - Investors and analysts on Wednesday welcomed fresh deals announced by Brazilian planemaker Embraer (EMBR3.SA), opens new tab at the Paris Airshow, including a major regional jet order from SkyWest and a defense agreement with Lithuania.
The announcements helped Embraer's shares climb as much as 5%, making it the top performer on Brazil's benchmark stock index Bovespa (.BVSP), opens new tab, and underscored positive sales momentum for the company.
Embraer got off to a turbulent start on Monday at Le Bourget as Polish carrier LOT, a long-time E-Jet operator, chose Airbus' (AIR.PA), opens new tab A220 regional jet over the Brazilian firm's E2 family after a hard-fought contest for a landmark 40-airplane deal.
But it recouped ground on Wednesday as U.S. airline SkyWest placed a firm order for 60 E175 jets valued at $3.6 billion at list price, with options for 50 more.
The deal was described as a "mega order" by Embraer's commercial aviation head, Arjan Meijer, who added in a statement that the E175 was the "cornerstone of regional aviation in North America."
Santander analysts praised it as a "strong positive development" for Embraer due to the meaningful boost to its backlog and indications of continued demand for the first-generation models in the key region.
The Brazilian firm also revealed that South Africa-based Airlink plans to lease 10 second-generation E195-E2 jets from Azorra, a move which Itau BBA believes could lead to further orders from the U.S. lessor in the future.
On the defense front, Lithuania said it had tapped Embraer's KC-390 airlifter for its fleet, paving the way for the acquisition of three aircraft. Financial details were not disclosed.
Analysts say the move may fuel more orders from European and NATO countries, with nations such as Portugal, Hungary and the Netherlands having also selected the aircraft, which competes with Lockheed Martin's (LMT.N), opens new tab C-130.
"We see potential for at least 50 new orders for the C-390 from NATO countries with the rise in defense investments in Europe," Bradesco BBI said in a note to clients.
Embraer, the world's third-largest planemaker after Airbus and Boeing (BA.N), opens new tab, has been riding tailwinds on the back of strong demand for its jets. Its shares have surged 30% so far this year, building on gains of more than 150% in 2024.
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