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In three years, Embraer intends to be bigger than it was before the crisis

Despite the still difficult moment, the worst of the crisis faced by Embraer, which combines the negative effects of the covid-19 on commercial aviation and the end of the partnership with Boeing, may be behind them. According to the company’s president, Francisco Gomes Neto, in the next three or four years, the company will be able to resume the size of revenue it had before the pandemic. And even become bigger, in the words of the executive to Valor newspaper. “We did our homework. We are very confident in this planning”, he said. He said that the second half was marked by intense work, adjusting the size of the operation to the new market reality. There was a significant reduction in the number of employees in the country, with a cut of 2,500 jobs, and the reduction in selling, general and administrative expenses between the first and the fourth quarters reached 30%, totaling USD 399 M in the year. At the same time, management completed the business plan that will guide Embraer’s route between 2021 and 2025. The company ended 2020 with USD 2.8 MM in cash, and raised USD 1 MM in resources to reinforce liquidity in the year. According to the executive, who took over in 2019, the strategic plan is realistic, and the approach for 2021 and 2022 is conservative. “We are still scared of the covid-19, especially in the country, and there are uncertainties”, he noted. “But the internal adjustments, and the positive prospects for certain markets, especially regional aviation, give confidence in better days ahead”, he affirmed. – https://valor.globo.com/empresas/noticia/2021/03/22/em-tres-anos-embraer-pretende-ser-maior-do-que-era-antes-da-crise.ghtml