January 15, 2014 / 12:30 PM / in 4 years

UPDATE 1-Embraer meets 2013 plane delivery goals amid Q4 surge

SAO PAULO, Jan 15 (Reuters) - Embraer SA , the world’s largest maker of regional aircraft, met its delivery targets for its commercial and executive segments last year after a surge in sales in the fourth quarter.

The São José dos Campos, Brazil-based company delivered 90 commercial planes and 119 executive jets for the full year, according to a securities filing on Wednesday. Embraer targeted deliveries of 80 to 90 light executive jets and 25 to 30 large executive jets for 2013.

Embraer targeted deliveries of 80 to 90 light executive jets and 25 to 30 large executive jets for 2013, and 90 to 95 commercial jets last year.

The numbers confirmed expectations of a recovery in demand for regional aircraft. In December, Paulo Cesar de Souza e Silva, Embraer’s head of commercial aviation, told Reuters the company expected robust sales of commercial planes in 2014, with Eastern Europe and Russia among the most promising regions for new business.

The company said in the filing its backlog of firm orders, a measure of future revenue based on deliveries going forward, rose to $18.2 billion at the end of December from $17.8 billion in September.

In December, Embraer received an order from American Airlines Group Inc for up to 150 aircraft. At the time, Embraer said it would include the order, with a value of $2.5 billion at current list prices, in its fourth-quarter order backlog.

In the fourth quarter, Embraer’s commercial plane deliveries stood at 32, while executive jets rose to 53. The company delivered 19 commercial jets and 25 executive jets in the prior quarter.

Common shares of Embraer rose 0.5 percent to 19.94 reais in SãO Paulo. The stock is up about 41 percent in the past 12 months.

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