Deliveries and revenues at Embraer down in first quarter
Deliveries at Embraer’s Executive Jet division dropped by 40 percent in the first quarter in 2015. Revenues were down 37 percent.
Overall, the company delivered 12 executive jets during during the quarter, down from 20 aircraft in 2014.
The drop in deliveries is largely due to a decline in smaller aircraft shipments. The company delivered seven fewer aircraft than in the previous year.
The company says that its revenues were lower due largely to higher than normal income tax expenditure, saying that foreign exchanges fluctuations during the quarter saw the Brazilian Real depreciate by 21 percent.
Embraer say that they are expecting to deliver between 35 and 40 large jets, and 80 and 90 light jets during 2015.