In a week of updates for the company, Embraer unveiled a medevac version of the Phenom 300 series—aptly called the Phenom 300MED—on August 4, and it presented its second-quarter financial results on August 5.
Embraer talked to Flying about the proposed medevac model during our flight test of the newest 300E back in March—and the latest announcement brings this effort to fruition. The version had Embraer joining forces with umlaut and Aerolite to develop a series of configurations that allow for use of one or two stretchers, as well as the capability to carry an incubator and additional medical equipment on board. The custom, hospital-grade interior fittings will be installed by Embraer’s Services & Support group. With an aircraft pressurization level that features a 6,600-ft maximum cabin altitude, the 300 series looks to be well-positioned to keep patients more comfortable. The STC will be available for existing Phenom 300s as well.
“The Phenom 300 platform―the most successful light jet in the world―with its unparalleled technology, comfort, and performance, is uniquely positioned for Medevac operations,” said Michael Amalfitano, Embraer Executive Jets’ president & CEO, in a press release. “Given the current health crisis, we are proud to be working with two world-class Medevac-solutions partners, and we are primed to immediately start taking orders for this unprecedented air ambulance solution.”
In reporting its second-quarter results, Embraer showed no big surprises given the current global commercial aviation environment. The company delivered four commercial jets and 13 business jets—nine light and four large—in Q2, maintaining a “firm” order backlog of $15.4 billion. The EBIT and EBITDA were also negatively impacted by the “weak” commercial aviation industry during this period, posting margins of (negative) 26.2 percent and (negative) 22.4 percent, respectively.
As stated by Embraer, “The 2Q20 results include total net negative non-cash special items of $202 million: 1) additional negative provisions for expected credit losses during the COVID-19 pandemic of $16.1 million, 2) an impairment loss on the Commercial Aviation business unit of $91.1 million, 3) recognition of previous period depreciation and amortization expense in the Commercial Aviation business of $101.2 million, and 4) a positive valuation mark to market of $6.5 million on the Company’s stake in Republic Airways shares.” The adjusted net loss totaled (negative) $198.8 million—with all figures in US dollars.
While the company’s financial liquidity remains “solid,” it continues to suspend its financial and deliveries guidance for its 2020 results.