Embraer has announced that revenue from its commercial aircraft sector has fallen to US$109 million in the second quarter of 2020, a fall of 82% compared to last year.
The announcement comes just three months after Boeing pulled the plug on it’s US$4.2 billion plan to acquire the commercial aviation arm of Embraer. The company also reported a loss of US$315 million for the last quarter. The drop in revenue has been blamed on the worldwide fallout from the COVID-19 pandemic.
Accordinf to Embraer, 50% of its current aircraft orders have now been deferred to 2022. To mitigate the effects of the current drop in sales and deliveries, the company has launched a new sales campaign to try and boost aircraft deliveries.
Airbus and Boeing, the two largest plane makers, have also seen cancellations and delaying of orders by carriers because of the ongoing pandemic.
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