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5/12, 3:41 PM (Source: TeleTrader)
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Embraer reports fall in plane deliveries

Brazilian aerospace conglomerate that produces commercial, military, executive and agricultural aircraft and provides aeronautical services Embraer said on Tuesday that its commercial plane deliveries fell by more than half during the first quarter of 2020 compared to last year.

However, the company does not blame the coronavirus outbreak as the main reason for fall but mentions that "the commercial aircraft deliveries in the first quarter were also negatively impacted by the conclusion of the separation of Embraer’s commercial aviation unit in January."

In January, the government of Brazil approved 80% of Embraer's commercial plane operation can be sold for $4.2 billion to Boeing. The remaining 20% should have been held by Embraer.

Firm orders for Embraer’s best selling plane, the E175, which seats up to 90 people, fell by 15 jets, while the order pipeline for the jet stands at 456. Its so-called "options," also fell by 15 jets.

Breaking the News / TF