Brazilian plane maker Embraer stated Sunday (Apr. 26) that, after the end of the $4.2 billion agreement with Boeing, announced on the weekend, it has worked to readjust its production levels and capital expenditures to save resources.
The partnership between Brazilian aircraft maker Embraer and Boeing was backed by 96.8 percent of the votes cast by share holders during an extraordinary meeting held today (Feb. 26).
Embraer is expected to deliver 85–95 business jets and 90–110 executive aircraft in 2019. The firm also expects to hand over to defense line clients ten A-29 Super Tucano planes and two multi-mission KC-390s. Revenues are likely to reach from $5.3 billion to $5.7 billion.
After being asked whether he would support the deal between Embraer and Boeing—which founds a joint venture where Boeing controls 80 percent, and Embraer 20 percent of shares—Brazilian President Jair Bolsonaro said today (4) he backs the alliance, but is concerned about the f