BREAKING NEWS

Embraer posts $77.2 million loss affected by Boeing deal costs

Embraer posts $77.2 million loss affected by Boeing deal costs
The logo of Brazilian aviation company Embraer is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker -
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PAULO WHITAKER(Reuters)
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SAOPAULO (Reuters) – Brazilian planemaker Embraer <EMBR3.SA> reported a third-quarter loss of $77.2 million (£60.3 million) on Tuesday affected by costs related to finalizing a $4.2 billion commercial passenger jets deal with Boeing <BA.N> which is expected to close by “early 2020.”

Embraer said deal costs came in at $34.8 million for the quarter.

The company also revised guidance on a special dividend for shareholders that will be paid after the deal closes to $1.3-1.6 billion, compared to a previous estimate of $1.3-1.7 billion.

(Reporting by Marcelo Rochabrun; editing by Jason Neely)

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