Brazilian aircraft maker Embraer has reported a net loss of $62m for Q1 2015, despite revenues from its commercial arm increasing by more than 19 per cent year on year.
The loss, according to the OEM, was down to income tax expenses of $118m compared with tax gains of $17.7m in Q1 2014.
However, its total revenues also dropped, down 15 per cent to $1.1bn in the first three months of 2015, as a result of declines in its defence and executive jet arms.
Revenues from its commercial aerospace business meanwhile increased to $662m, up from $555m in 2014.
The OEM’s overall pre-tax profits (EBIT) for Q1 2015 totalled $79.6m down from $92.1m in 2014, but it did report a slight improvement in operating margin with the figure for Q1 7.5 per cent, up from 7.4 per cent in 2014.
The regional jet maker’s order backlog was also up 6.3 per cent year on year to $20.4bn, and it delivered 20 commercial aircraft (E175s) up from 14 for the same period last year.