Embraer sees commercial orders deferred, not cancelled

Embraer says it has not had any order cancellations as a result of the current global coronavirus pandemic that has decimated the air transport industry, but it is seeing some customers ask for deferments of deliveries as airlines reduce capacity for an undetermined period. “The discussion is dynamic,” says CFO Antonio Carlos Garcia. “All these [discussions] are regarding the delivery schedule, but no cancellations. The situation is really changing, and we need to know for how long the capacity reductions will last in order to have an accurate assessment.” The company ended the year with a backlog of US$16.8b, and says it received 69 new firm orders during the year from the likes of American Airlines, KLM, Azul and United Airlines. Its new generation E2 jet backlog reached 153 firm orders and more than 570 commitments. <br/>