Embraer's commercial aviation revenue plummets by 82% on coronavirus pandemic
Reuters
Published Aug 05, 2020 06:28AM ET
SAO PAULO (Reuters) - Brazil's Embraer said on Wednesday that revenue at its commercial aviation segment, usually its largest and most profitable, had tumbled 82% to $109 million in the second quarter due to the coronavirus pandemic.
Embraer, like its larger planemaker rivals Airbus (PA:AIR) and Boeing (N:BA), has seen demand tumble as the pandemic ground air travel to a halt. The company reported a net loss of $315 million in the quarter.
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Written By: Reuters
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