Embraer (ERJ) Unit to Supply 5 A-29 Super Tucano to Ghana - Analyst Blog
Embraer SA’s ERJ unit Embraer Defense & Security and the Ministry of Defence of the Republic of Ghana have signed a contract for the procurement of five A-29 Super Tucano light attack and advanced training turboprops.
Per the contract, Embraer will also provide logistic support for the operation of these aircraft. Embraer will set up training system for pilots and mechanics in Ghana so as to make them capable of operating the A-29 Super Tucano. The A-29 Super Tucano will be deployed by the Ghana Air Force for advanced training, border surveillance and internal security missions.
The importance of Super Tucano as a trainer aircraft has grown over time, primarily due to increasing complexities of fighter jets. Embraer’s single-engine Super Tucano is a multi-purpose military turboprop that fits the requirement of various defense forces worldwide as it delivers both training and operational effectiveness at low acquisition and operating costs.
The popularity of Super Tucano ensures regular contract wins for Embraer. Recently, at the Paris Air Show, Embraer Defense & Security and the Ministry of Defense and Veterans from the Republic of Mali have signed a contract for the acquisition of six A-29 Super Tucano light attack and advanced training turboprops.
The A-29 Super Tucano aircraft is being used by 10 air forces in three continents. Embraer has received more than 210 firm orders and has delivered more than 190 aircraft to date. A-29 Super Tucano was also selected by the United States Air Force for its Light Air Support program.
Commercial Jet Orders in Paris Air Show
Apart from defense aircraft, Embraer is also winning contracts for commercial jets. In the recently concluded Paris Air Show, the company received orders for 25 E-Jet E2s from Air castle Holding Corporation Limited, a subsidiary of Aircastle LTD AYR. The deal includes purchase rights for 15 additional E190-E2s and 10 E195-E2s (read: Embraer Wins E2 Contract from Aircastle at Paris Air Show).
The company also won an order for supplying 10 E175s to United Continental Holdings Inc. UAL. It also signed agreements with SkyWest Inc. and China-based Colorful Guizhou.
Embraer currently has a Zacks Rank #4 (Sell). A better-ranked stock in the aerospace sector is Northrop Grumman Corporation NOC carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NORTHROP GRUMMN (NOC): Free Stock Analysis Report
EMBRAER AIR-ADR (ERJ): Free Stock Analysis Report
UNITED CONT HLD (UAL): Free Stock Analysis Report
AIRCASTLE LTD (AYR): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
