Updates with extra particulars from earnings consequence
Updates with extra particulars from earnings consequence
March 26 (Reuters) – Brazilian planemaker Embraer EMBR3.SA on Thursday reported a internet lack of $209.eight million for the fourth quarter of 2019, because the producer grappled with the coronavirus pandemic that to this point has led it to droop manufacturing in Brazil.
The corporate produces some govt jets in Florida.
Embraer mentioned it had not seen vital change in demand in mild of the coronavirus outbreak, however suspended its 2020 monetary steering regardless,
Embraer is within the last levels of a $4.2 billion cope with Boeing BA.N that has suffered a number of delays because of a strict antitrust evaluation within the European Union. The EU is now anticipated to problem its choice after June 23, Embraer mentioned.
Some analysts say the deal is in danger as a result of Embraer’s share worth has fallen extensively in latest months and Boeing is affected by an unprecedented disaster because of the grounded 737 MAX planes following two lethal crashes and the coronavirus outbreak that has led to a collapse in demand for air journey.
Embraer additionally disclosed an impairment cost of $71.6 million in its govt jets division and $54 million in prices associated to the Boeing deal that weighed over its fourth-quarter internet earnings consequence.
(Reporting by Marcelo Rochabrun; Enhancing by Bernadette Baum)
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