After betting its future on Boeing, jetmaker Embraer scrambles for elusive plan B [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
After betting its future on Boeing, jetmaker Embraer scrambles for elusive plan B Brazilian plane maker Embraer SA has been thrust into an uncertain future with no immediate plan B, while not ruling out seeking a bailout after Boeing Co jettisoned a $4.2 billion commercial aerospace tie-up amid the coronavirus crisis. The company’s shell-shocked chief executive, in the job for a year with little aerospace experience, sought to rally staff after the board held late-night talks to review the collapse of plans for surviving mounting aerospace competition. “Our history is full of difficult moments, and we have overcome all of them,” Francisco Gomes Neto told Embraer’s 20,000 staff before giving them a thumbs up. But Embraer now faces a historic crisis with its isolation reinforced by the breakup – two years after Europe’s Airbus absorbed Embraer’s main competitor, the Canadian-designed A220. “For Embraer, it could be very damaging,” said Teal Group consultant Richard Aboulafia, noting it
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