Embraers CEO on the Breakup With Boeing and Going It Alone
In April of twenty, one, thousand, nine, hundred Embraer selected veteran automotive industry CEO Francisco Gomez NATO as its new leader, and if ever there was a baptism by fire, he has gone through it in two, thousand and twenty. First, the COVID nineteen crisis hit crippling air travel and decimating demand for new airplanes then Boeing. Pulled out a four point two billion dollar deal to acquire an eighty percent stake. Embraer's commercial operations after emperor had shut down its operations for forty days and torn the company apart for car route. So where does ember air go from here and how can it recover here to? Answer those questions as Mr Gomez. NATO in his first conversation with the trade media since taking the helm at. Embraer. Also, joining us from Frankfurt to ask questions with me is yen's photo aviation weeks executive editor for commercial aviation welcome. Francisco. Let's start with the obvious question. Why did the deal with Boeing collapse and what are you doing to put Embraer's commercial operations back together? First of all, he says measure to be here with you. Thanks for for the Vision for this guests. Well I mean. We need that. Boynton has wrongfully naked. Reasons for the whose possession be. As, you said before point two billion. Dollar purchase bronze. Of Visualization. Progressing up is fast all initial TV areas in the service there is our. bigly. Read the great in we. Him also updated our band recall Roy. Sweep one twenty five mile e Cudi Commissioning Gatien in thinking The covy nine. So how do you plan to return the company to profitability and and wh what initiatives are most promising? Okay so he s an old this year. We really with a big issue the I wa. Dropping no revenues of the back of the V ninety. So event, not Anita the nature of the point lead this machine was more challenging because. With this, wrong in revenues combine costs. And higher the more. Because all day costs League Office. So this year what we are. We are we demanded A. Crisis Committee, and defining fighting for your. help us open the. Office will be the communication blow so. I will. Soon. As fight for artists, one is to protect. The health people because of all, these Colby get along people working at Home Office, the one who brought pants. All measures we Brought back to their health. Sat, on the second yard. This project allegations. Falls or on. Our. Our expertise always, you reduce our investments on only boom, our the siebel payables. The everything we coons who protect. Our cash. Who Wins? The vast in four four son loans to help us with a Number, three. was. recaptured. Seniors. Said before I mean we we had to recover. These is we had because of the off process. process. BROISSIA's. We. Promoted a rightsizing the organization because of the. Back, but also because of the effects of the Kobe. Needed his response, your guys edition, only a reduced cost, the new dynamic for the Popham who prepared again Asian. Our other strategic planning, one, twenty, five, the four priority is tool and. Die Of. This To Have A. More efficient immoral Gile Open. I. Is was. Is Now who view the basis for our future road then. We Very. Very. Robust. Recalling. One twenty five. That's a note we want that will already enjoy. Eating very A. CENTURY OUR FINANCIAL PERFORMANCE From. Linked to on. Any. Were democracy to. We expect. Enjoy rules any Mel Revenue Spike essentially, our financial. For.