Deliveries by Brazilian planemaker Embraer SA fell in the second quarter from a year earlier and its backlog fell sharply as it dropped an order from an inactive customer, according to a securities filing on Friday.
The planemaker delivered 28 commercial jets to airlines in the three months through June, down from 35 planes a year earlier. Executive jet deliveries fell to 20 aircraft, from 24 jets a year before.
Embraer shares fell nearly 2 percent in Friday trading, pressured by a sharp appreciation of Brazil’s currency, which hurts the planemaker’s export-focused business.
Embraer’s firm order backlog, a gauge of expected revenue, fell sharply as the planemaker removed an order for 50 of its next-generation E2 passenger jets placed by Indian carrier Air Costa, which suspended service last year.
22/07/18 Brinkwire
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The planemaker delivered 28 commercial jets to airlines in the three months through June, down from 35 planes a year earlier. Executive jet deliveries fell to 20 aircraft, from 24 jets a year before.
Embraer shares fell nearly 2 percent in Friday trading, pressured by a sharp appreciation of Brazil’s currency, which hurts the planemaker’s export-focused business.
Embraer’s firm order backlog, a gauge of expected revenue, fell sharply as the planemaker removed an order for 50 of its next-generation E2 passenger jets placed by Indian carrier Air Costa, which suspended service last year.
22/07/18 Brinkwire
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