January 16, 2019 / 11:47 AM / 9 months ago

Embraer cuts 2018 outlook, hurt by executive jet, defense setbacks

SAO PAULO, Jan 16 (Reuters) - Brazilian planemaker Embraer SA on Wednesday lowered its revenue projection for 2018 by $300 million, hurt by fewer deliveries of executive jets and a runway testing incident with its new military cargo jet.

Embraer is in the midst of finalizing a deal with Boeing in which it expects to sell 80 percent of its commercial aviation division for $4.2 billion. (Reporting by Marcelo Rochabrun; editing by Jason Neely)

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