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| Embraer saw a drop in revenue as biz jet sales slow. Photo: Wikipedia |
[Avionics Today 05-01-2015] Embraer has released its first-quarter 2015 profits, posting a quarterly loss as business jet sales slowed and a stronger U.S. dollar heightened tax expenses. Embraer delivered 20 commercial and 12 executive jets in the first quarter of the year, a 37 percent drop from the same period in 2014.
Revenues from the company’s defense and security division also tumbled leaving the company with total revenues of more than $1 billion and a first-quarter net loss of $59 million.