financetom
Business
financetom
/
Business
/
Embraer sees Chinese role in strengthening supply chain, executive says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Embraer sees Chinese role in strengthening supply chain, executive says
Nov 13, 2024 11:27 AM

ZHUHAI, China (Reuters) - Brazilian planemaker Embraer ( ERJ ) said on Wednesday at China's largest air show in Zhuhai that it planned to focus on strengthening its supply chain, with Chinese companies able to play a role.

Embraer ( ERJ ) is the world's third-largest planemaker and focuses on up to 150-seat single-aisle regional and executive aircraft, sitting just below Airbus' and Boeing's ( BA ) best-selling A320 and 737 families and rivalling the Airbus A220.

At Zhuhai, Embraer's ( ERJ ) chief commercial officer, Martyn Holmes, noted that China's President Xi Jinping would soon visit Brazil. The G20 summit will be held there this month.

"I think it's an exciting moment for us to be having that (supply chain) conversation with Chinese suppliers and looking how we evolve," Holmes said.

China is Brazil's top trade partner. Brazilian President Luiz Inacio Lula da Silva said earlier this year that he wanted to discuss a "long-term strategic partnership" with China.

Industry sources have said Embraer ( ERJ ) is looking for a strategic partner for a possible new passenger jet project to compete more directly with Airbus and Boeing ( BA ).

Since the COVID-19 pandemic Embraer ( ERJ ) has pushed to expand in Asia with its latest range of more efficient E2 jets, saying post-pandemic travel trends in the region created more demand for more frequent secondary and tertiary airport connections.

Singapore Airlines' low-cost offshoot Scoot is the first operator of the E2 jet in the Asia-Pacific region.

Asia, led by China, has been slower to return to pre-pandemic air traffic levels than other regions.

Embraer ( ERJ ) had said that China's domestic market has enormous potential.

Embraer ( ERJ ) had struggled to find new business in China since the 2016 closure of a joint venture to manufacture executive jets in the city of Harbin.

However, its E190-E2 and E195-E2 models received Chinese certification in 2022 and 2023, and in June, Embraer ( ERJ ) inked a deal with a Chinese company to convert its E-jets to freighters.

(Writing by Lisa Barrington and Gerry Doyle; Editing by Christian Schmollinger)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Acv Auctions Insider Sold Shares Worth $22,212,270, According to a Recent SEC Filing
Acv Auctions Insider Sold Shares Worth $22,212,270, According to a Recent SEC Filing
Mar 15, 2024
05:41 PM EDT, 03/15/2024 (MT Newswires) -- Brian Hirsch, Director, on March 13, 2024, sold 1,269,992 shares in Acv Auctions ( ACVA ) for $22,212,270. SEC Filing: https://www.sec.gov/Archives/edgar/data/1637873/000141588924008140/xslF345X03/form4-03152024_090359.xml ...
Blade Air Mobility Insider Sold Shares Worth $364,753, According to a Recent SEC Filing
Blade Air Mobility Insider Sold Shares Worth $364,753, According to a Recent SEC Filing
Mar 15, 2024
05:50 PM EDT, 03/15/2024 (MT Newswires) -- Robert S Wiesenthal, 10% Owner, Director, Chief Executive Officer, on March 13, 2024, sold 135,319 shares in Blade Air Mobility ( BLDE ) for $364,753. Following the Form 4 filing with the SEC, Wiesenthal has control over a total of 7,174,911 shares of the company, with 7,174,911 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1779128/000177912824000036/xslF345X03/wk-form4_1710538826.xml...
Cloud software company HashiCorp is exploring potential sale, Bloomberg News reports
Cloud software company HashiCorp is exploring potential sale, Bloomberg News reports
Mar 15, 2024
March 15 (Reuters) - Cloud software vendor HashiCorp ( HCP ) is exploring options, including a sale, Bloomberg News reported on Friday citing people familiar with the matter. ...
Unum Insider Sold Shares Worth $510,600, According to a Recent SEC Filing
Unum Insider Sold Shares Worth $510,600, According to a Recent SEC Filing
Mar 15, 2024
05:41 PM EDT, 03/15/2024 (MT Newswires) -- Steven Andrew Zabel, Executive Vice President, Chief Financial Officer, on March 13, 2024, sold 10,000 shares in Unum ( UNM ) for $510,600. Following the Form 4 filing with the SEC, Zabel has control over a total of 122,246 shares of the company, with 122,246 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/5513/000000551324000064/xslF345X03/wk-form4_1710538549.xml Price: 52.49,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved