Embraer

Embraer values its commercial aircraft backlog at $15.2 billion

The last time that Embraer had a backlog of around 500 aircraft was when it still held firm orders for the E175-E2.

Photo: Embraer

Embraer has released its Q3 2025 aircraft backlog update, highlighting that its commercial aircraft backlog, which includes firm orders, is now valued at $15.2 billion, a nine-year high.

On October 21, 2025, Embraer published its Q3 2025 backlog filing, detailing that the value of its commercial aircraft backlog, which is comprised of 490 firm orders, is now valued at $15.2 billion, “setting a new 9-year record.”

Compared to the same quarter in 2024, the backlog’s valuation is up 37%, while quarter-on-quarter (QoQ), the backlog’s value climbed by 16%, “supported by a 2.7x book-to-bill ratio over the past year.”

During the quarter, Avelo Airlines and LATAM Airlines booked major orders for the Brazilian planemaker’s E2 jets. The United States-based carrier announced its first-ever new aircraft order on September 10, purchasing up to 100 E195-E2s, with the order being evenly split between 50 firm and 50 optional orders.

Then, on September 22, LATAM Airlines added another 24 aircraft to Embraer’s E195-E2 firm backlog, with the South American airline now also holding 50 purchase options.

Deliveries for Avelo Airlines and LATAM Airlines’ E195-E2s would begin in H1 2027 and H2 2026, respectively, with LATAM Brazil taking delivery of the group’s first E195-E2.

Just two weeks after Q3 2025 ended, Netherlands-based aircraft lessor TrueNoord announced its order for up to 40 E195-E2s, with the deal including 20 firm and 20 purchase rights for the small narrowbody. In addition, the Dutch aircraft leasing company added 10 options for the previous-generation E175. Embraer highlighted that the order should be added to its backlog in Q4 2025.

Its firm order backlog is now split between 200 E175, 37 E190-E2, and 253 E195-E2 aircraft. During the quarter, it handed over 20 aircraft, four more than in Q3 2024: seven E175, two E190-E2, and 11 E195-E2s.

The two E190-E2s went to Azorra, which later delivered the aircraft via lease to Virgin Australia and Scoot. Porter Airlines and Mexicana welcomed four and two E195-E2s, respectively, while Azorra (three) and Aircastle (two), two lessors, welcomed the remaining five.

Azorra delivered the trio of E195-E2s to Airlink (two) and Azul Linhas Aéreas Brasileiras (Azul, one). Aircastle’s two deliveries were eventually welcomed by KLM Cityhopper, KLM’s regional subsidiary.

The last time that Embraer’s commercial aircraft backlog hovered around the 500 jet mark was in 2016, when the Brazilian manufacturer was still hopeful that it would be able to break down the wall that is the scope clause limits. These limit US regional airlines, which provide services on behalf of the major airlines, including American Airlines, Delta Air Lines, and United Airlines, from operating aircraft with more than 76 seats and having a maximum takeoff weight (MTOW) of more than 86,000 pounds (39,000 kilograms).

The E175-E2 has an MTOW of 98,120 lbs (44,600 kg).

At the end of Q1 2016 and Q2 2016, the Brazilian planemaker’s backlog numbered 492 and 500 aircraft, respectively. Its backlog at the end of Q3 2016 and Q4 2016 was 479 and 450 jets. In 2015, the company ended Q2, Q3, and Q4 with more than 500 aircraft in its backlog.

But it had to slash its backlog in Q3 2018, when it removed SkyWest Airlines’ order for 100 E175-E2 aircraft. At the time, it said that uncertainty regarding scope clause changes, which would have allowed the E175-E2 to enter the US regional jet market, forced it to “proactively [adopt] best practices to align with the latest IFRS [International Financial Reporting Standards – ed. note] principles and remove the order from backlog given its conditionality terms.”

In February 2025, Embraer further delayed the E175-E2’s development restart to at least 2029. Scope clause limitations, as well as the ongoing demand for E175s among US regional airlines, were cited as the reasons for the additional delay.