Rio de Janeiro: Brazilian aircraft maker Embraer reported net profits of $246.8 million in 2017, 48.58 per cent more than the previous year — news that comes amid expectations that it might partner with US aerospace giant Boeing. Embraer, the world’s third-largest aircraft maker, also indicated that its 2017 fourth quarter profits totalled just $35.2 million — 82 per cent less than the prior year’s $195.2 million in the same period, and substantially below the previous quarter’s $110 million. Earnings of the full year before interest, taxes, depreciation and amortization — a figure known as EBITDA — came to $644.7 million in 2017.
Embraer said “negotiations continue to advance” with the US giant on the possible Boeing merger, but noted “there are no guarantees.”
“Given the complexity of the operation, it is natural that we are spending more time in analysis and talks,” Embraer president Paulo Cesar de Souza said in a conference call, saying the parties were “committed to finding an alternative.” — AFP
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