Stock of Brazilian aircraft manufacturer Embraer went up as the company showed profits last week worth R $ 438.1 million (US $ 87.9 million) despite the pandemic's impact on the airline industry.
Brazilian aircraft manufacturer Embraer reported second-quarter losses of US$ 315 million on Wednesday, as sales plunged due to the coronavirus pandemic and a proposed joint venture with Boeing collapsed.
A union representing workers at planemaker Embraer filed a lawsuit on Friday seeking to dismiss the company's board, after a US$4.2 billion deal with Boeing Co collapsed amid the pandemic, leaving the Brazilian jet-maker scrambling for a new path forward.
Brazilian plane manufacturer Embraer SA, the world's third-largest commercial jet builder, should obtain US$600 million in credit lines from Brazil's state development bank BNDES and private banks in June, government sources said on Sunday.
Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said. Boeing axed plans to buy 80% of Embraer’s commercial unit in April, ending a planned move into regional jets that mirrored rival Airbus’ purchase in 2018 of a competing model developed by Canada’s Bombardier.
Brazilian planemaker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a US$ 4.2 billion commercial aerospace tie-up amid the coronavirus crisis.
A consortium formed by Germany's Thyssenkrupp AG and Brazilian plane maker Embraer SA signed a deal to deliver four frigates to Brazil's navy between 2025 and 2028, the companies said in a statement.
US President Donald Trump will meet with Brazilian President Jair Bolsonaro in Florida on Saturday to discuss trade, infrastructure, Venezuela and the Middle East, the White House said in a statement on Friday.
Brazilian planemaker Embraer is in the advanced stages of studying the launch of a new turboprop aircraft to be developed through a venture it is planning with Boeing, subject to necessary approvals, a top executive said on Monday.
Brazilian planemaker Embraer SA will furlough almost 15,000 workers in January, a metalworkers union said on Thursday, ahead of a partial takeover by Boeing Co as part of a deal that still needs regulatory approval.