//MANUFACTURERS

Embraer adjusts its structure in response to the impact of COVID-19 and the cancellation of the partnership with Boeing

Embraer adjusts its structure in response to the impact of COVID-19 and the cancellation of the partnership with Boeing   Source: Embraer   Embraer announced today a 4,5% adjustment to its global workforce, which corresponds to approximately 900 employees in Brazil. The measure stems from the impacts caused by the COVID-19 pandemic on the global economy and the cancellation of the company's partnership with Boeing. The objective is to ensure Embraer's sustainability and engineering capacity.   The pandemic particularly affected Embraer Commercial Aviation, which experienced a 75% reduction in aircraft deliveries during the first half of 2020 as compared to the same period last year.   The situation worsened as a result of the duplication of structures associated with the [...]

2020-09-03T17:30:02+03:00September 3rd, 2020|MANUFACTURERS, News|

Embraer announces Arjan Meijer as President and CEO of Commercial Aviation business

Source: Embraer Embraer started today its restructuring process with the reintegration of the commercial aviation business and announces Arjan Meijer as the new President and CEO of Embraer Commercial Aviation, succeeding John Slattery. Arjan will report directly to Embraer President and CEO Francisco Gomes Neto, and the move will be effective immediately. Arjan, 47, has been Chief Commercial Officer of Embraer Commercial Aviation since January 2017. In his role as CCO at the company, he has been responsible for the global Marketing and Sales functions across six different regions, helping the company to achieve 35 airline deals. He joined the company in April 2016 as Vice President of Commercial Aviation for Europe, the Middle East, Africa, and Russia. Prior to [...]

2020-06-15T18:51:58+03:00June 15th, 2020|MANUFACTURERS, News|

Embraer Earnings Results 1Q20

Source: Embraer HIGHLIGHTS   Embraer delivered five commercial jets and nine executive jets (five light / four large) in 1Q20, and the Company’s firm order backlog at the end of 1Q20 was US$ 15.9 billion;  EBIT and EBITDA in 1Q20 as reported were US$ (46.9) million and US$ 9.3 million, respectively, yielding EBIT margin of -7.4% and EBITDA margin of 1.5%. This compares to EBIT of US$ (15.2) million (-1.8% EBIT margin) and EBITDA of US$ 30.9 million (3.8% EBITDA margin) in 1Q19. The 1Q20 results include special items due to the impacts of COVID-19: 1) US$ 22.2 million in negative fair value changes on the Company’s stake in Republic Airways Holdings, and 2) US$ 33.4 million in bad debt provisions [...]

2020-06-01T20:26:00+03:00June 1st, 2020|MANUFACTURERS, News|

Embraer Delivers Five Commercial and Nine Executive Jets in 1Q20

Source: Embraer Embraer (NYSE: ERJ; B3: BOVESPA: EMBR3) delivered a total of 14 jets in the first quarter of 2020, of which five were commercial aircraft and nine were executive jets (five light and four large). As of March 31st, the firm order backlog totaled USD 15.9 billion. See details below: Historically, Embraer seasonally has fewer deliveries during the first quarter of the year, and in 2020 in particular, the commercial aircraft deliveries in the first quarter were also negatively impacted by the conclusion of the separation of Embraer's Commercial Aviation unit in January. During the first quarter, Embraer Executive Jets announced that the new Phenom 300E was granted its Type Certificate by ANAC (National Civil Aviation Agency of Brazil), [...]

2020-05-12T20:49:17+03:00May 12th, 2020|MANUFACTURERS, News|

Boeing Terminates Agreement to Establish Joint Ventures with Embraer

Boeing (NYSE: BA) announced today that it has terminated its Master Transaction Agreement (MTA) with Embraer, under which the two companies sought to establish a new level of strategic partnership. The parties had planned to create a joint venture comprising Embraer's commercial aviation business and a second joint venture to develop new markets for the C-390 Millennium medium airlift and air mobility aircraft. Under the MTA, April 24, 2020, was the initial termination date, subject to extension by either party if certain conditions were met. Boeing exercised its rights to terminate after Embraer did not satisfy the necessary conditions. "Boeing has worked diligently over more than two years to finalize its transaction with Embraer. Over the past several months, we had productive [...]

2020-04-25T19:53:36+03:00April 25th, 2020|MANUFACTURERS|

Embraer says that Boeing wrongfully terminated the Master Transaction Agreement

São José dos Campos, Brazil, April 25, 2020 – Embraer announced today that it is in receipt of Boeing's notice of termination of the Master Transaction Agreement (MTA) with Embraer. Embraer believes strongly that Boeing has wrongfully terminated the MTA, that it has manufactured false claims as a pretext to seek to avoid its commitments to close the transaction and pay Embraer the US$4.2 billion purchase price. We believe Boeing has engaged in a systematic pattern of delay and repeated violations of the MTA, because of its unwillingness to complete the transaction in light of its own financial condition and 737 MAX and other business and reputational problems. Embraer believes it is in full compliance with its obligations under the MTA [...]

2020-04-25T19:36:22+03:00April 25th, 2020|MANUFACTURERS, News|

Boeing Extends Temporary Suspension of Puget Sound Production Operations

Boeing is extending the temporary suspension of production operations at all Puget Sound area and Moses Lake sites until further notice. These actions are being taken in light of the company's continuing focus on the health and safety of employees, current assessment of the spread of COVID-19 in Washington state, the reliability of the supply chain and additional recommendations from government health authorities. During the suspension, the company will continue to implement additional health and safety measures at its facilities to protect employees. These measures include new visual cues to encourage physical distancing, more frequent and thorough cleaning of work and common areas and staggering shift times to reduce the flow of employees arriving and departing work, among many other [...]

2020-04-06T10:20:08+03:00April 6th, 2020|MANUFACTURERS|