© Reuters. A Embraer Praetor 600 aircraft is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. REUTERS/Denis Balibouse

SAO JOSE DOS CAMPOS, Brazil (Reuters) -Brazilian planemaker Embraer SA (NYSE:) expects a recovery in 2021-2022 while aiming for growth in 2023-2026, CEO Francisco Gomes Neto said on Monday.

The outlook comes after large revenue drops due to the COVID-19 pandemic and a failed commercial aviation deal with Boeing (NYSE:) Co.

The company’s 2023-2026 “fit for growth” plan, Gomes Neto said, is based on pillars such as higher inventory usage and lowering the cost of goods sold.

The company expects to triple its inventory turnover as part of the plan and is well on its way to do so, he noted during an event, while also looking to achieve strong cash generation to finance projects with its own money.

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