SAO PAULO, Nov 5 — Brazilian aircraft maker Embraer said today it lost US$45 million in the third quarter of the year, falling back into the red one quarter after posting its first net profit since the coronavirus pandemic began. But the company narrowed its losses from the same period last year,...
SAO PAULO, Nov 5 — Brazilian aircraft maker Embraer said today it lost US$45 million in the third quarter of the year, falling back into the red one quarter after posting its first net profit since the coronavirus pandemic began.
But the company narrowed its losses from the same period last year, when it lost US$121.2 million amid the havoc Covid-19 wrought on the aviation industry worldwide. Embraer, the world’s third-biggest plane maker, after Airbus and Boeing, said the recovery was fuelled by revenue growth and orders that have rebounded to near pre-pandemic levels.
It reported revenue of US$958.1 million for the July-September period, up 26.3 per cent from the year before.The company is still bouncing back from the double blow last year of the pandemic and a failed tie-up with Boeing. In April 2020, the US aerospace giant ditched plans for a US$4.2 billion deal to buy Embraer’s commercial plane division. — AFP
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