19.03 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||19.01 x 2900|
|Ask||19.50 x 800|
|Day's Range||18.80 - 19.07|
|52 Week Range||16.73 - 23.68|
|Beta (3Y Monthly)||-0.37|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.04 (0.22%)|
|1y Target Est||N/A|
The union representing workers at Brazilian planemaker Embraer SA said on Wednesday they had approved a strike that could start next Monday, amid what they described as stalled salary negotiations. The union said it represents close to 8,000 workers at the planemaker's headquarters in the industrial city of Sao Jose dos Campos but added that it did not know how many would participate in the strike. Embraer declined to comment.
Boeing (BA) continues to expect single-aisle jets to be the key demand driver for commercial jets in China, comprising 74% of the total projection.
Embraer hopes to see more orders for its newest passenger plane by the end of the year, an executive said on Thursday, as Boeing readies to take over the Brazilian planemaker's commercial jets division in what could mark the next phase of its rivalry with Airbus . Manufacture of the E195-E2, as Embraer's plane is known, will soon be controlled by Boeing, which needs regulatory approval to close on the deal to buy 80% of Embraer's commercial jets division for $4.2 billion. Embraer on Thursday delivered its first E195-E2 plane, which will seat about 140, to Brazil's No. 3 airline Azul at its headquarters in Sao Paulo state.
After weighing on Embraer's profit in recent years, the KC-390 military jet could drive substantial earnings growth for the company over the next five years and beyond.
Alaska Air Group's Horizon Air unit and Boeing's future partner Embraer have signed a deal for the Brazilian jet maker to provide all heavy maintenance for Horizon's 30 E175 regional jets. The maintenance will be provided to Horizon at Embraer's Aircraft Maintenance Services facility in Nashville, Tennessee, under a multi-year agreement that includes airframe work, modifications and repair services.
Moody's Investors Service ("Moody's") assigned a B3 rating to Triumph Group, Inc's. ("Triumph"), new second lien notes due 2024 and affirmed its other ratings including the Caa1 Corporate Family (CFR), the Caa1-PD Probability of Default, and the Caa2 senior unsecured. Proceeds from the second lien notes will be used to pay off Triumph's senior unsecured notes due 2021 and to reduce borrowings on the revolving credit facility.
As the Boeing 737 MAX’s groundings extend deep into December, some airlines are beginning to worry that the regulatory problems may broaden to the 777X, possibly delaying deliveries.
The Brazilian aerospace company posted another quarterly loss, but it is seeing strong demand for its new Praetor-series executive jets, and it recently bagged its first export order for the KC-390 multimission military jet.
Brazilian planemaker Embraer on Wednesday swung to a $7.2 million profit in the second quarter as higher revenue at its executive jets business offset lower commercial jet sales, but still played down hopes of turning a profit in 2019. The company had reported a quarterly loss of $131 million a year earlier, impacted by a runway incident that delayed development of a new military plane. The profit in the three months through Junes was better than the Refinitiv consensus estimate of a $29 million loss.
The A220 deal emerged after Boeing turned to the bond markets late Monday to help pay for its takeover of Embraer.
Brazil planemaker Embraer delivered 26 commercial planes in the second quarter of 2019, down from 28 planes in the same period of 2018 and 35 in 2017, the company said in a securities filing on Tuesday. Embraer has been struggling to turn a profit in recent months, as demand for its executive jets remains weak and its new generation commercial planes have not met certain requirements to be flown by the larger carriers in the United States. Deliveries of executive jets rose slightly to 22 planes from 20 planes a year earlier.
Papua New Guinea's Air Niugini is looking to replace its entire fleet of 25 planes in the coming years and has sought information from manufacturers and lessors about options before launching a formal tender, its managing director said on Friday. "Everything is on the table at the moment," Managing Director Alan Milne, a former Qantas Airways Ltd executive who took on the role in November, told Reuters in a phone interview. Two are meant to replace two 737 NG series planes in operation, but the need for the other two is unclear and they could be switched to Boeing widebodies or Embraer SA regional jets once Boeing's deal to buy 80% of the Brazilian planemaker's commercial division closes, Milne said.
Portugal's government will buy five KC-390 military transport aircraft and a flight simulator from Brazilian aerospace company Embraer for 827 million euros ($932 million), Defence Minister Joao Gomes Cravinho said on Thursday. The first of the five planes will be delivered to the Portuguese armed forces in February 2023, with the rest arriving by February 2027. Portugal's armed forces have used C-130 Hercules made by Lockheed Martin for 40 years.
Moody's Investors Service ("Moody's") downgraded its ratings of Triumph Group, Inc. ("Triumph"), including the Corporate Family Rating (CFR) to Caa1 from B3, Probability of Default Rating to Caa1-PD from B3-PD and senior unsecured to Caa2 from Caa1. Moody's also upgraded the Speculative Grade Liquidity (SGL) rating to SGL-3 from SGL-4. The downgrades reflect Moody's expectations of limited cash generation, weak credit metrics and a sustained reliance on external financing over the next few years.
Flyadeal picks Airbus A320 Neo jets over Boeing's (BA) 737 MAX 8. This replaces the $5.9 billion-agreement signed last December for 50 737 Max 8 jets.
Mitsubishi Heavy Industries will buy the remnants of the CRJ regional jet program in order to gain control of Bombardier's global sales, service, and support networks.
After opening a new headquarters in Renton in May and rebranding its MRJ as the new "The SpaceJet," Mitsubishi Aircraft makes a $550 million move to bolster Japan's first commercial jet, which is being flight tested in Washington.