Poll: Do You Think The Boeing/Embraer Deal Will Be Completed In 2020?
Embraer said it expects a further delay in the closure of a deal for Boeing to purchase its commercial aircraft business as it recorded a strong year in its executive jet division in 2019.
Embraer now expects a delay beyond June 23 for approval by the European Commission for its plan to sell Boeing 80% of its commercial aircraft business for $4.2 billion in cash, officials told analysts in a March 26 earnings call.
So far in the wake of the novel coronavirus, Embraer has not experienced order cancellations, an extensive slowing in its supply chain or production operations, or a material impact on demand for products, it said. Still, the company has suspended guidance for 2020 until the company has a better sense of its impact, officials said.
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