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Embraer shares jump as unit gets orders for 60 electric aircraft

Reuters
·1 min read
Embraer logo at LABACE in Sao Paulo

SAO PAULO (Reuters) - Shares in Brazilian planemaker Embraer SA rose more than 4% after the company said its electric vertical takeoff and landing aircraft (eVTOL) subsidiary Eve Urban Air Mobility has received orders for 60 eVTOLs from two Australian companies.

Embraer announced on Monday a partnership with Sydney Seaplanes, which will allow it to start implementing electric air taxi operations in the Greater Sydney region. The partnership includes an order of 50 eVTOLs to be delivered from 2026, it said.

On Saturday, Embraer said Australian helicopter operator Nautilus had ordered 10 units of Eve's eVTOLs to operate at Queensland's tourist attractions.

No amounts were disclosed for any of the transactions.

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Analysts at Guide Investimentos said in a note to clients that Eve's technology "will seamlessly integrate into operations to deliver a variety of zero-emission tourism experiences."

Embraer was among the top performers on the Bovespa stock index, gaining 4.8% in early afternoon.

(Reporting by André Romani and Peter Frontini; Editing by Alison Williams and David Gregorio)