Brazilian planemaker Embraer informed that it has reached a new agreement with the Brazilian Air Force (FAB) regarding the number of KC-390 military aircraft ordered by the military. In a statement to Brazil’s Securities Commission (CVM), the company announced another reduction in the total number of jets commissioned, from 22 to 19.
The company also stated that after negotiations, an agreement was reached to “redefine the delivery schedule, in order to spread the effect of the reduction in the number of aircraft out over time, and adjust contractual clauses in order to maintain the respective economic and financial balance.”
According to the statement, the new amendment definitively ends the possibility of unilateral reductions within the scope of the law.
The contracts between the federal government and Embraer were signed in 2014, initially worth BRL 7.2 billion (USD 1.36 billion). They were revisited at the end of last year. In November, the Air Force announced...
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