Embraer in Brazil, the world’s third largest commercial aircraft manufacturer closed the third quarter of 2015 with a net loss of US$109.6 million. At the same time last year, the loss totaled US$10.7 million. According to the company the devaluation of the Brazilian real in relation to the U.S. dollar was the main contributing factor for surge in losses.

During the third quarter of 2015 Embraer delivered 51 aircrafts: 21 jets to the commercial aviation market and thirty to the executive aviation market. According to the company the number is fifty percent higher than in the same period last year. In the accumulated total for the first nine months of the year the manufacturing giant delivered 143 aircrafts.

According to data from Embraer the company registered net revenues of over US$1.28 million in the third quarter, growth of 62 percent in comparison to the third quarter of 2014.

This year, Embraer reported closing contracts with AirFrance/KLM, Airliban (Middle East Airline), SkyWest Airlines and China’s Colorful Guizhou. In June, at the Paris Air Show, Embraer won US$2.6 billion worth of contracts for the manufacturing of regional jets for companies like United and Aircastle.

The company, which manufacturers both large commercial airplanes as well as executive jets and is the third largest aircraft manufacturer in the world, behind Boeing and Airbus, is also venturing out to defense aircrafts.

In 2014 unveiled the prototype of the KC-390 military aircraft to compete with Lockheed Martin’s C130J Super Hercules. The Brazilian giant claims its model will be cheaper and more efficient than its U.S. competitor’s. Embraer, according to specialized media reports has already received pre-order commitments from South American and European governments.