Embraer Focuses on Future After Boeing Divorce

PARIS / SAO PAULO, Brazil --- The head of Embraer’s commercial aircraft unit defended the benefits of a $4.2 billion tie-up abandoned by Boeing Co last week, but said the Brazilian aerospace group was focusing on its future as a re-united company.

Commercial Aviation Chief Executive John Slattery said Embraer had incurred pain and costs in separating jetliners from defence and business-jet activities in preparation for the merger, including a loss of deliveries in January.

He declined to comment on an arbitration process Embraer launched after Boeing abruptly cancelled the deal on Saturday.

Speaking in a webinar hosted by Aviation Week, Slattery said he was convinced the commercial aerospace partnership with Boeing would have provided “extraordinary benefits” to airline customers who had expressed disappointment at its collapse.

Boeing has said Embraer failed to meet conditions for closing the deal.

Slattery said Embraer was burning cash but had capacity to raise more if needed. “I am not concerned about liquidity.”

It was the first public appearance by the company’s commercial boss since the deal collapsed in acrimony. (end of excerpt)

Click here for the full story, on the Reuters website.

-ends-

Let's block ads! (Why?)

from Defense Aerospace - Press releases https://ift.tt/2W0Jzb3
via Defense