RIO DE JANEIRO, Brazil: Brazilian Embraer, the world's third-biggest plane-maker after Airbus and Boeing, on Monday reported a net profit of $164 million for 2023, after posting strong results in the third and fourth quarters.

For the period October to December, the company reported profit of $192.6 million, up from $22.9 million in the same quarter of 2022.

Embraer said it had nearly erased a loss of $185 million reported in 2022.

In 2023, the company delivered a total of 181 jets ― a 13-percent increase from the previous year. Of the total, 64 were commercial aircraft, 115 executive jets and two military C-390s.

Embraer said it expected even better results in 2024, with plans to deliver up to 80 commercial planes.

But it continues to face supply chain delays which negatively impacted 2023 deliveries.