Brazilian airframer Embraer this morning announced slightly improved first-quarter revenue over the same period last year, though reduced deliveries and continued supply chain issues resulted in a net profit decrease for the company. Net revenue for the first quarter was up 4.3 percent, to $843.4 million, compared to $808.3 million a year ago. Increased production costs ate into profit, which fell from $231.9 million to $216.3 million.
The Office and Professional Employee International Union says that the pilot strike it led at PHI had a significant effect on the company’s 2006 financial results. The company posted a net loss of $667,000 last year, compared with net earnings of more than $14.1 million the previous year. Over the same period, the company’s operating revenues increased from $363.6 million to $413.1 million.
NetJets subsidiary Executive Jet Management (EJM) told AIN last month it logged record revenues last year but declined to reveal a dollar number. It did note, however, that 32 of its managed aircraft each generated more than $1 million in charter revenue; four generated $2 million each; three $3 million each; and one $5 million.
After sustaining losses of C$116 million ($91.4 million) after 9/11, Nav Canada, the private, non-share corporation that owns and operates Canada’s civil air navigation system, saw its rate stabilization account–a financial savings buffer to offset downturns in revenue–return to the positive side of the ledger in April.
When Berkshire Hathaway chairman Warren Buffett speaks, everyone listens. As usual, he spoke aplenty in his latest annual letter to shareholders, which was released early last month.
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