Embraer airplane maker of delivered 26 commercial planes in the second quarter of 2019, which are lower than the 28 planes in the same period of 2018 and 35 in 2017.
Companies performance is degrading day after day, if we compare the plane delivery graphs of past 3 years. Embraer is fighting hard to earn some profit in recent months. Moreover now the company is getting less orders as compare to the previous years. Both the executive jets and commercial planes have not met certain requirements to be flown by the larger carriers in the United States.
The company said its firm order backlog, a gauge of future revenue, increased to $16.9 billion from $16 billion in the previous quarter. A year earlier, the backlog stood at $17.4 billion.
Deliveries of executive jets rose slightly to 22 planes from 20 planes a year earlier.
Embraer is in the process of finalizing the sale of 80% of its commercial jets division, its most profitable, to Boeing for $4.2 billion. The sale has been approved by Brazil’s government and Embraer’s shareholders but still needs regulatory approval from the countries in which the company deliver the planes.