August 5, 2020

Brazil’s Embraer reports $315 mln in losses

Sao Paulo (AFP) – Brazilian aircraft manufacturer Embraer reported second quarter losses of $315 million Wednesday, as sales plunged due to the coronavirus pandemic and a proposed joint venture with Boeing collapsed.The new red ink came on top of $292 million in losses in the first quarter when the COVID-19 crisis began to hit the South American economic powerhouse.In the second three-month stretch of last year, by comparison, Embraer posted profits of $7.2 million.This time the company’s hardest hit branch was commercial aviation, which fell 82.8 percent compared with the same period of last …


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