Embraer will invest approximately $390 million throughout the remainder of the year. The announcement was made during President of Brazil Luiz Inacio Lula da Silva's visit to the company's headquarters in Sao Jose dos Campos.
The investment includes research and development for new technologies such as eVTOLs, as well as the expansion of aeronautical services, including passenger to cargo aircraft conversion, defence and security, and efficiency improvement projects, and expanding its industrial activities. Embraer will also hire around 900 new employees; 90% of hires are expected to occur in 2024. The investment and additional jobs are intended to support Embraer's anticipated future growth and increased aircraft production.
""Embraer begins a new phase of growth based on efficiency and innovation,"" said Embraer CEO and president Francisco Gomes Neto. ""We are focused on capturing our full potential in the different segments in which we operate towards more sustainable aviation.
In 2023, Embraer had added returned to its pre-pandemic employment level with the addition of 1,500 employees. Embraer anticipates its deliveries for 2024 to be between 72 and 80 commercial aircraft and between 125 and 135 executive jets. It also expects revenues to be between $6bn and $6.4bn for the year.
Neto added: ""Through partnerships with the public and private sector, we are expanding sales, opening new markets and investing in new technologies, which makes it possible to increase the export of high-value-added products and create thousands of highly qualified jobs in Brazil.""
Embraer had partnered with Azul Linhas Aereas, which will receive 13 E195-E2 jets from Embraer this year.
Embraer to invest $390 million, hire 900 employees in 2024
