Planemaker Embraer narrows losses in fourth quarter despite revenue drop

Embraer said its cash position remained stable at US$2.8 billion. The pandemic has crippled demand for commercial air travel, which has affected the company’s main business line.

RIO DE JANEIRO, BRAZIL - Brazil planemaker Embraer on Friday, March 19th, reported a net loss of US$3.3 (R$18.5) million for the fourth quarter, narrowing its losses significantly compared to last year, despite revenue that came in 12% lower than pre-pandemic levels.

Embraer said its cash position remained stable at US$2.8 billion. The pandemic has crippled demand for commercial air travel, which has affected the company’s main business line . . .

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