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Brazil’s Embraer Ships Less Commercial Planes In First Quarter

Brazil planemaker Embraer SA stated on Friday that it delivered 11 business planes within the first quarter of 2019, three lesser than in the identical interval final yr, as it works to cede management of that worthwhile division to Boeing Co.

The corporate mentioned its total backlog, a gauge of future income, stood at $16 billion, sustaining a restoration from a 5-yr low that it had recorded in October of final 12 months. The backlog at the moment stood at $13.6 billion.

Embraer additionally stated it had delivered 11 govt jets within the quarter, the same quantity as in the same interval in 2018. As soon as it completes the separation of its industrial planes phase, Embraer’s backside line will turn out to be extra reliant on the efficiency of this division, which has posted losses in current quarters.

Boeing and Embraer’s business aviation partnership, which might consolidate a worldwide passenger jet duopoly, has been authorized by the Brazilian authorities and by Embraer’s shareholders however nonetheless wants regulatory approval from several nations.

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