July 20, 2020 / 12:43 PM / 24 days ago

Embraer's commercial jet deliveries collapse amid pandemic

FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/Files

SAO PAULO (Reuters) - 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.

Reporting by Gabriela Mello and Marcelo Rochabrun; Editing by Toby Chopra and Louise Heavens

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