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Commercial jet revenue was the hardest hit, falling to $177 million from $408 million a year ago as the pandemic ravaged commercial travel.
But the executive jets division, which some analysts believed would be a bright spot as the ultra rich would spend to travel in isolation, also fell significantly. Executive jets revenue fell to $212 million from $363 million a year ago.
Its defense division, however, managed to grow its revenue on higher deliveries of military planes. Still, Embraer’s defense division remains a smaller business segment than making civilian planes.
The company said it burned through $567 million in cash during the quarter.
