The military arm of aerospace manufacturer Embraer (NYSE: ERJ) suffered a setback at the hands of the Brazilian Air Force, and the stock traded down as a result. Shares of Embraer lost 12.7% in November, according to data from S&P Global Market Intelligence, on investor concerns that the company will have a hard time backfilling the lost orders. Embraer, a Brazil-based manufacturer of commercial jets and military equipment, has long had close ties with its home government.
Shares in Brazilian planemaker Embraer SA rose more than 4% after the company said its electric vertical takeoff and landing aircraft (eVTOL) subsidiary Eve Urban Air Mobility has received orders for 60 eVTOLs from two Australian companies. Embraer announced on Monday a partnership with Sydney Seaplanes, which will allow it to start implementing electric air taxi operations in the Greater Sydney region. On Saturday, Embraer said Australian helicopter operator Nautilus had ordered 10 units of Eve's eVTOLs to operate at Queensland's tourist attractions.
The improved IFC services from Viasat (VSAT) aim to offer enhanced Internet capabilities with best-in-class in-flight entertainment options to entice more customers in Porter Airlines.