By Newsfeed/Reuters
RIO DE JANEIRO, BRAZIL – Brazil planemaker Embraer SA said on Friday that it delivered 11 commercial planes in the first quarter of 2019, three fewer than in the same period last year, as it works to cede control of that profitable division to Boeing.
The company said its overall backlog, a gauge of future revenue, stood at $16 billion, maintaining recovery from a 5-year low that it had recorded in October of last year. The backlog at that time stood at US$13.6 billion.
Embraer also said it had delivered 11 executive jets in the quarter, the same number as in the same period in 2018. Once it completes the separation of its commercial planes segment, Embraer’s bottom line will become more reliant on the performance of this division, which has posted losses in recent quarters.
Boeing and Embraer’s commercial aviation partnership, which would consolidate a global passenger jet duopoly, has been approved by the Brazilian government and by Embraer’s shareholders but still needs regulatory approval from several countries.