TThe Industry

Embraer loses $121 million in third quarter.

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Brazilian aircraft manufacturer Embraer on Tuesday reported a $121 million loss in the third quarter from the coronavirus pandemic that has affected demand for commercial and private aircraft.

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Revenue from commercial aircraft was the most affected, falling to $177 million from $408 million a year ago, Reuters reported.

The executive jet division, which some analysts believed would be a highlight because the rich would spend more to travel in isolation, also fell significantly. Executive jet revenue fell to $212 million from $363 million a year ago.

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Its defense division, however, was able to increase its revenues with increased deliveries of military aircraft. Even so, this division of Embraer is still a smaller business segment than civil aircraft manufacturing.

The company said it consumed $567 million in cash during the quarter.

(Report by Marcelo Rochabrun; Edited in Spanish by Gabriela Donoso)

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