Embraer has revealed that revenues from its executive jet division have fallen by close to one-third year on year.
The Brazilian OEM’s Q3 results published today (November 6) reveal that executive jet revenues were $213.3m in Q3 2014 compared with $314.8m the year before, accounting for just 17.2 per cent of the firm’s total revenues.
The OEM also confirmed that it delivered 10 fewer executive jets in Q3 2014 than the same period in 2013.
Despite an increase in earnings from its defence arm, Embraer posted a 3.8 per cent decline in overall revenues for the quarter compared with 2013.
However, the firm states that it expects revenues from its executive jet division to increase in Q4 this year.
The results also reveal that despite a fall in income in Q3, Embraer’s total revenues for the year to date are 7.9 per cent higher than in 2013.