Brazil's Embraer jet deliveries rise, backlog falls
- The backlog now stands at $14.2 billion, down from $15.9 billion in the first quarter of 2020.
- Embraer, the world's No. 3 planemaker, has been deeply challenged by the pandemic, along with its larger competitors Boeing Co and Airbus SE.
Brazilian planemaker Embraer SA said it delivered 22 jets in the first quarter, up from 14 jets a year ago when the pandemic was beginning to erode air travel demand, but cutting into its backlog, which measures future revenue.
The backlog now stands at $14.2 billion, down from $15.9 billion in the first quarter of 2020.
Embraer, the world's No. 3 planemaker, has been deeply challenged by the pandemic, along with its larger competitors Boeing Co and Airbus SE.
While Embraer executives have said repeatedly that clients have not canceled jet orders due to the pandemic, the planemaker is struggling to secure new orders for its commercial jets.
Embraer did not add any new firm commercial jet orders in the past three months and had only two orders in the past year, the company's numbers show.
Embraer's pending firm orders for commercial planes stand at 272 as of March 31, the planemaker said, down from 281 firm orders on Dec. 31.
Embraer does not disclose detailed information on its pending firm orders for corporate jets or its defense products.
Shares in the planemaker, which will release quarterly results on Thursday, fell 0.7%.
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