RIO DE JANEIRO, BRAZIL - EMBRAER (EMBR3) on Wednesday, February 9, announced it has concluded the renegotiation of contractual addenda with the Brazilian Air Force (FAB) that resulted in the reduction of the total number of KC-390 Millennium to be delivered from 28 to 22 aircraft.
According to EMBRAER, the outcome of the negotiations is expected to result in a reduction in its firm order backlog of approximately US$500 million.
In addition, the manufacturer expects that these addenda could have an immediate impact on EMBRAER's operating results of up to US$50 million, according to the revised contractual . . .