Embraer unveils US$390 million investment plan

Embraer has announced a significant investment and growth plan for 2024, as it intends to invest USD$390 million and hire 900 additional employees in Brazil. 

The objective of this investment and growth plan is the meet increased aircraft production and invest in future growth, by developing new businesses, products and services. Embraer has already seen strong growth this year, reporting a Q12024 backlog of $21.1 billion.

The investment will include research and development activities for new technologies, such as those used for eVTOLs, and the conversion of passenger aircraft into cargo aircraft. Other areas of focus include defense and security, efficiency improvements, and the expansion of industrial activities.

One of Azul’s aircraft models was presented and named by President Lula during a visit to the Embraer factory. Photo: Embraer

“Embraer begins a new phase of growth based on efficiency and innovation. We are focused on capturing our full potential in the different segments in which we operate towards more sustainable aviation,” said Francisco Gomes Neto, President and CEO of Embraer.

90% of the hires will occur throughout the year for the operations sector, with positions for mechanics, electricians and aircraft maintenance technicians. Last year, Embraer increased its workforce by 1,500 employees. The OEM currently has 19,000 direct employees worldwide, 88% of whom are based in Brazil.

2024 estimates another year of growth for Embraer, with an expected revenue generation between US$6 billion to $6.4 billion. Its recent partnership with Azul Linhas Aéreas, which is expected to received 13 E195-E2 jets, is a large part of this growth.