The world’s third-largest commercial jet builder, Embraer, is in talks with Brazil’s state development bank BNDES and private banks for $600 million worth of financing (including bond issues).
According to the Brazilian planemaker, the financing will provide working capital so that their production meets the demand for passenger planes and executive jets. Reuters reports that the company has firm orders for the years ahead worth $16 billion.
Embraer is a Brazilian aerospace conglomerate which produces commercial, military, executive, and agricultural aircraft and provides aeronautical services. It is the third-largest producer of civil aircraft after Boeing and Airbus.
On 26th February 2019, Embraer and Boeing announced the acquisition of an 80% share of the Embraer commercial division, which would take the name Boeing Brasil – Commercial, and market the E-Jet and E-Jet E2 series of narrow-body short-to medium-range twin-engine jet airliners.
The deal was canceled in April 2020, following Boeing’s falling into financial trouble. The planemaker was profoundly affected by the reduction in demand for aircraft caused by the COVID-19 pandemic and, to a lesser degree, the disasters which involved the flaws in the design of its 737 MAX airplanes.
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