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4/27, 12:07 AM (Source: TeleTrader)
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Embraer has no 'plan B' but CEO hopes to overcome crisis

Brazilian aerospace conglomerate Embraer Chief Executive Officer Francisco Gomes Neto told his staff that even though the company’s history was "full of difficult moments, we have overcome all of them."

However, the planemaker is now on the path where it has no certain future and no plan B for the rescue after American aerospace corporation Boeing said earlier it has ended agreements for joint ventures with Embraer after a deadline for the deal expired.

In January this year, Brazil's Administrative Council for Economic Defense (CADE) approved on Monday Boeing Co’s acquisition of Embraer's commercial aviation division, in a trade agreement worth $4.2 billion.

Breaking the News / TF