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☆ Boeing chief strategy officer to depart in 2024 as part of restructuring
▼ + stars: | 2023-11-16 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - Marc Allen will step down as Boeing's (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill the chief strategy officer role going forward. Boeing will shrink its strategy and corporate development organization and instead have "strategy teams directly joining the business units they support," Calhoun said. Chief Financial Officer Brian West and Mike D’Ambrose, the company's top human resources official, will create a realignment plan for the strategy unit over the next month, Calhoun said.

Persons: Sao Jose dos Campos, Gabriel Araujo, Marc Allen, planemaker, David Calhoun, Calhoun, Brian West, Mike D’Ambrose, Allen, Valerie Insinna, Tim Hepher, Chris Reese, Bill Berkrot Organizations: Boeing, REUTERS, Rights, Embraer, EMBR3, Airbus, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, U.S, China

☆ Brazil's Embraer posts 34% profit jump, maintains outlook
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

An Embraer logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsSAO PAULO, Nov 6 (Reuters) - Brazilian planemaker Embraer (EMBR3.SA) on Monday reported a third-quarter adjusted net income of $32.9 million, up 34% from a year earlier, and reiterated its outlooks for the full year despite ongoing supply chain issues. "We have a big challenge for deliveries in the fourth quarter, but as we demonstrated in the fourth quarter of 2022, we are prepared for it," Chief Financial Officer Antonio Carlos Garcia told a conference call with analysts. Embraer's net revenue jumped 38% in the third quarter to $1.28 billion, the firm said, noting it managed to post double-digit revenue growth across all its four units - which also include defense & security and services & support. ($1 = 4.9007 reais)Reporting by Gabriel Araujo Editing by Louise Heavens, David Goodman and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Antonio Carlos Garcia, Francisco Gomes Neto, Gabriel Araujo, Louise Heavens, David Goodman, Chizu Organizations: Embraer, European Business Aviation Convention, REUTERS, SAO PAULO, EMBR3, Boeing, Airbus, Reuters, Thomson Locations: Geneva, Switzerland

The world's third-largest aircraft maker after Airbus (AIR.PA) and Boeing (BA.N), Embraer bagged 13 fresh orders for commercial jets at the Paris Airshow, falling short of market estimates and previous years' levels. The 13 new orders compared with 74 secured at Le Bourget in 2019 and 28 in Farnborough last year. They also lagged some upbeat market forecasts, including expectations by JPMorgan analysts for at least 30 orders. In Paris, investors were especially disappointed by the lack of orders from the booming Indian airline market, which handled an all-time-high 500-plane transaction to Airbus and new orders to Boeing. "We believe that most of the pre-event excitement has already been adjusted in share prices," said XP Investimentos, while also rates Embraer a "buy."

Persons: Le Bourget, Gabriel Araujo, Conor Humphries, Leslie Adler Organizations: SAO PAULO, Embraer, EMBR3, Airbus, Boeing, Paris, Le, JPMorgan, American Airlines, Royal, Salam Air, Thomson Locations: China, Farnborough, U.S, Paris, Royal Jordanian, New York

☆ Eve agrees on potential sale of up to 150 flying cars
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, June 20 (Reuters) - Electric aircraft maker Eve (EVEX.N), controlled by Brazil's Embraer (EMBR3.SA), said on Tuesday it has signed letters of intent for potential sales of its "flying car" to Voar Aviation, Nordic Aviation and Wideroe Zero. Under the new agreements, Eve said in a statement, Voar would operate its eVTOLs in Brazil's main metropolitan areas and popular tourist destinations, such as Sao Paulo, Florianopolis and Salvador. Wideroe Zero's parent Wideroe is already an Embraer customer for conventional jets, currently having three E190-E2 aircraft in its fleet. Its low-carbon unit envisions all domestic short-haul flights to be electric as part of Norway's goal of achieving carbon-neutral aviation by 2040. Reporting by Gabriel Araujo; Editing by Kirsten Donovan and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Eve, Norway's, Gabriel Araujo, Kirsten Donovan, Louise Heavens Organizations: SAO PAULO, Electric, Brazil's Embraer, EMBR3, Voar Aviation, Nordic Aviation, Wideroe, Nordic, Embraer, Thomson Locations: Brazil's, Sao Paulo, Florianopolis, Salvador, Scandinavia

☆ Nidec to form joint venture with Brazil's Embraer to make flying car parts
▼ + stars: | 2023-06-17 | by ( ) www.reuters.com time to read: 1 min

TOKYO, June 18 (Reuters) - Nidec said on Sunday that it is teaming up with Brazilian firm Embraer to form a new company that will make parts for flying cars and be set up in the United States. The new firm, to be known as Nidec Aerospace, will be based in St Louis, making use of existing factories of both firms in Brazil and Mexico. Nidec will take a 51% stake in the company and Embraer 49%, it added in a statement. A report in the Nikkei Shimbun newspaper said the company would invest 20 billion yen ($141.02 million) in research and development over the next five years. ($1 = 141.8200 yen)Reporting by Elaine Lies; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nidec, Elaine Lies, Daniel Wallis Organizations: Embraer, Nidec Aerospace, Nikkei Shimbun, Thomson Locations: TOKYO, United States, St Louis, Brazil, Mexico

☆ Avolon says $4 trln needed to transform global jet fleet
▼ + stars: | 2023-06-13 | by ( Tim Hepher | ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakePARIS, June 13 (Reuters) - Global aviation needs $4 trillion of capital over the next 20 years to fund new commercial deliveries and transform the world's fleet, leasing firm Avolon said on Tuesday. The world's commercial passenger aircraft fleet is set to nearly double to 46,880 aircraft by 2042, the Dublin-based firm predicted. Environmental critics say such rapid growth of commercial aviation is at odds with its environmental objectives. Avolon has said the main focus should be on increasing the supply of Sustainable Aviation Fuels. Europe's Airbus will maintain leadership of the narrow-body market with its current 53% share of the fleet rising to 58% by 2042, Avolon predicted.

Persons: Mike Blake PARIS, Avolon, Tim Hepher, Conor Humphries Organizations: Delta Airlines, REUTERS, Global, . Airlines, Sustainable Aviation Fuels, Airbus, Boeing, Embraer, Thomson Locations: San Diego , California, U.S, Dublin, China

☆ Brazil's Embraer to build NATO-approved aircraft in Portugal
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +2 min

Embraer, which holds 65% of OGMA's capital, makes several types of planes, including a light attack aircraft called "Super Tucano". Embraer also manufacturers the KC-390 military cargo aircraft and it aims for more international deals to sell it. In 2019, the Portuguese government said it would buy five of Embraer's KC-390 military transport aircraft and a flight simulator for 827 million euros. Two sources familiar with the matter said on last week that Austria was looking to advance in talks with Embraer on purchasing four or five KC-390 military cargo aircraft. "President (Lula) wants to encourage the Brazilian defence industry and increase investment in the defence industry," Mucio said.

[1/2] An Airbus A320neo aircraft is pictured during a news conference tin Colomiers near Toulouse, France, October 17, 2017. Airbus' defense portfolio includes the A400M and the C295, which are respectively larger and smaller than Embraer's KC-390. De La Vela said he sees potential collaborations emerging in areas such as unmanned aircraft and space technologies, including for new products, adding that he would like to hear from Embraer before elaborating. De La Vela said Airbus expects the Brazilian MRTTs to open the Latin American market for the aircraft, noting talks with four other undisclosed countries in the region were underway. Reporting by Gabriel Araujo and Rodrigo Viga Gaier; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

RIO DE JANEIRO, April 11 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) aims to sign a deal for the sale of 20 commercial jets to a Chinese airline during President Luiz Inacio Lula da Silva's visit to China this week, two people familiar with the matter told Reuters on Tuesday. The deal would mark a breakthrough for Embraer in China, where it has struggled to find new business since the 2016 closure of a joint venture at a factory in Harbin. That venture with Chinese group Avic, launched in 2003 during Lula's first presidential term, produced a previous generation of regional jets and Legacy 650 executive jets. Embraer has delivered 110 commercial aircraft to Chinese airlines, including 70 to Hainan Airlines (600221.SS) and 20 to China Southern (600029.SS), according to securities filings. The planemaker has not received a new order from a Chinese airline since leaving Harbin in 2016.

☆ Analysis: Lula confronts Brazil military's pro-Bolsonaro lean with carrot and stick
▼ + stars: | 2023-01-23 | by ( Anthony Boadle | ) www.reuters.com time to read: +6 min

But at a Friday meeting the commanders of the armed forces, Lula did not bring up the attack, according to a government official who witnessed the meeting. The armed forces' strategic plans to modernize its equipment included developing a nuclear-powered submarine contracted with France's Naval Group, a subsidiary of defense contractor Thales (TCFP.PA). GENIE OUT OF THE BOTTLEWhether a splurge on military hardware will help tamp down pro-Bolsonaro sentiment in the armed forces is open to question. "Lula wants this to go away as soon as possible," he added. "Starting to punish members of the armed forces for what happened may be legally the right thing to do but politically it would open a Pandora's box."

☆ Brazil's Embraer narrows Q3 net loss, sees deliveries at lower end of outlook
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Nov 14 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday reported a narrower third quarter net loss and boosted its free cash flow outlook for the full year, but acknowledged that annual deliveries were likely to stay at the lower end of its forecast. Embraer posted a quarterly adjusted net loss of 93.8 million reais ($17.62 million), narrower than the 179.7 million-real loss a year ago despite net revenue dropping 3% to 4.87 billion reais. The company increased its free cash flow outlook for the full year to $150 million or more from a previous estimate of $50 million or more, saying results so far have outperformed initial expectations. Santander analysts said the results missed their projections, but the reaffirmed delivery outlook was positive given the risks from supply chain issues. ($1 = 5.3250 reais)Reporting by Gabriel Araujo; Editing by Steven Grattan, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Embraer delivers 33 jets in Q3, reaffirms full-year forecast
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

SAO PAULO, Nov 7 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) on Monday said it has delivered a total 33 jets in the third quarter, up from 30 in the year-ago period, and reaffirmed its full-year forecast even with supply chain constraints hitting the industry recently. Embraer said that quarterly deliveries included 10 commercial aircraft and 23 executive jets, up from nine and 21 respectively in the same period of 2021. The latest backlog data included a firm order for six E195-E2 jets signed with Oman's low-cost carrier SalamAir in October. Embraer had also agreed on a deal with Canada's Porter Airlines for 20 aircraft earlier this year. The Brazilian company reaffirmed its full-year deliveries forecast set at 100 to 110 executive jets and 60 to 70 commercial jets.

☆ Brazil's Embraer delivers 14 jets in first quarter, order backlog hits $17.3 billion
▼ + stars: | 2022-04-19 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File PhotoSAO PAULO, April 19 (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) said on Tuesday it has delivered 14 jets in the first quarter of 2022, including six commercial and eight executive planes, and that its firm order backlog hit $17.3 billion on March 31. Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

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