The unprecedented downturn in business aviation is starting to claim major casualties, but there are signs the market may be stabilizing after a frenzy of delivery defaults and order cancellations driven by the global economic crisis. A 59% drop in business aviation revenues—coupled with layoff costs and tax payments—has pushed Embraer into the red for the first time in years, with a first-quarter net loss of $23.4 million. The company delivered only two mid-size Legacy 600s, down from ...

THIS CONTENT REQUIRES SUBSCRIPTION ACCESS

You must be a paid subscriber to access "Cessna Shelves Large-Jet Ambitions; Embraer Sees Red".

 

Current Aviation Week Intelligence Network (AWIN) enterprise and individual members: please go to http://awin.aviationweek.com for access.

 

Not currently a subscriber? Click on the "Learn More" button below to view subscription offers.

Already registered? here.