Embraer’s commercial jet deliveries collapse amid pandemic

Brazilian planemaker Embraer SA (EMBR3.SA) said on Monday it had delivered just four commercial planes in the second quarter, compared with 26 a year ago in the same period, blaming the collapse on the coronavirus pandemic.

The crisis has hammered travel around the world and its larger rivals Airbus (AIR.PA) and Boeing Co (BA.N) 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.