Embraer's commercial jet deliveries collapse amid pandemic
FILE PHOTO: Workers set up at the Embraer booth prior to the opening of the National Business Aviation Association (NBAA) exhibition in Las Vegas, Nevada, U.S. October 21, 2019. REUTERS/David Becker
SAO PAULO (Reuters) - Brazilian planemaker Embraer SA
The crisis has hammered travel around the world and its larger rivals Airbus (NYSE: AIR) and Boeing Co (NYSE: BA) are also struggling to sell planes.
Embraer's backlog, a gauge of future revenue, stood at $15.4 billion, a slight drop compared with three months ago when it was valued at $15.9 billion.
The planemaker also delivered 13 executive jets in the quarter, compared with 25 a year ago. The executive jets industry is expected to be more resilient as the ultra-rich eschew flying commercial to avoid catching the disease.
"Embraer delivered fewer commercial planes and executive jets than in the same period of previous years, mainly due to the COVID-19 pandemic that affects the whole world," Embraer said in a securities filing.
(Reporting by Gabriela Mello and Marcelo Rochabrun; Editing by Toby Chopra and Louise Heavens)
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