Embraer's Eve gets $50 million Citi loan to fund 'flying car' development [Yahoo! Finance Canada]
Embraer S.A. (ERJ)
Last embraer s.a. earnings: 3/26 06:00 am
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Source: Yahoo! Finance Canada
loan from Citibank, strengthening its balance sheet and supporting the development of its "flying car," the company said on Wednesday. Eve, controlled by Brazilian planemaker Embraer, is one of a bevy of startups worldwide developing battery-powered aircraft that can take off and land vertically to ferry travelers on short city trips, allowing them to beat traffic. The firm expects its electric vertical take-off and landing (eVTOL) aircraft to obtain certification and enter service in 2026, and has amassed nearly 3,000 potential orders ahead of production with potential revenue of $14.5 billion. "Eve continues to attract new investors, a sign of the continued confidence in our strategic plan and strong customer interest in our eVTOL aircraft," Chief Financial Officer Eduardo Couto said in a statement. The Citi loan comes on top of a credit line of $88 million that Eve secured from Brazil's state development bank BNDES earlier this month to fund the development of its first pro
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ERJ
Earnings
- 11/11/24 - Beat
ERJ
Sec Filings
- 11/8/24 - Form 6-K
- 11/8/24 - Form 6-K
- 10/25/24 - Form SC
- ERJ's page on the SEC website