Brazil’s Embraer Posts US$121 Million Q3 Loss after Coronavirus Travel Disruptions

Commercial jet revenue was the hardest hit, falling to US$177 million from US$408 million a year ago as the pandemic ravaged commercial travel.

RIO DE JANEIRO, BRAZIL - Brazilian aircraft manufacturer Embraer on Tuesday posted a US$121 million loss for the third quarter, as the coronavirus pandemic curbed travel across the world, hitting demand for commercial jets and private planes.

Commercial jet revenue was the hardest hit, falling to US$177 million from US$408 million a year ago as the pandemic ravaged commercial travel.

But the executive jets division, which some analysts believed would be a bright spot as the ultra-rich would spend to travel in isolation, also fell significantly. Executive jet sales revenue fell to US$212 million from US . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?