BDRBF - Embraer: Not A Great Deal Despite Building Momentum In Private Jets

• Disappointment on the Millennium is an important development in the Embraer defense story, reflecting the inherent risks in contracting with governments like Brazil.
• Embraer's focus on the light cabin jet in executive aviation poises it well for growth with exposure to one of the most dynamic categories.
• Commercial could suffer with Omicron, but small form factors are definitely better than large ones at this point in time, representing an advantage.
• All things considered, Embraer is not a fantastic deal at this point, and might only work out if momentum in private jet markets builds.

For further details see: