Embraer has delayed the expected close of its commercial aircraft merger with Boeing, now anticipating the deal will not be finalised until at least March 2020.
The Brazilian manufacturer had initially expected the agreement would close in 2019, then, earlier this year, shifted the timeline to "early 2020".
Speaking to reporters on 12 November, Embraer chief financial officer Nelson Salgado says the Boeing deal has been delayed again due to an ongoing review of the deal by European antitrust regulators.
Embraer does not expect the European Commission will complete its review until at least March 2020, Salgado says.
However, he stresses Embraer expects to close the deal swiftly after the European approval, noting that the airframer is continuing to complete the internal work required to separate the commercial aircraft division.
It expects to finish that work before the end of 2019.
The deal calls for Boeing to pay $4.2 billion for an 80% stake in Embraer's commercial aircraft division, which includes the successful E-Jet programme and related commercial aircraft services and development work.
Salgado says Boeing's struggles with its 737 Max have had no impact on the pending Embraer-Boeing deal.
