Embraer reported 2008 net income of $388.7 million, a 21% drop from $489.3 million the previous year, citing losses on currency hedges as the value of the real fell and sagging sales owing to the global economic downturn. Full-year revenue rose 20.8% to $6.33 billion. Fourth-quarter profit plunged 44% to $111.6 million from $200.9 million a year ago and revenue for the quarter was down 3% to $1.81 billion. The Brazilian manufacturer announced last month that it would lay off 20% of its ...

Subscribe to Access this Entire Article

"Embraer reports 21% profit drop in 2008" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.