The program arose from a partnership between the Brazilian company Embraer and the Argentine FMA. The project was an advanced turboprop aircraft for its time, including advanced technology in avionics, aerodynamics, and propulsion. The aircraft was an innovative design in that the two turbine engines were mounted on the rear fuselage similar to a Cessna Citation, but they drove six-bladed propellers in pusher configuration. Unfortunately for Embraer and FMA, the high technology which would ensure the success of the CBA 123 was one of the reasons of its demise. The final unit cost of the aircraft — US$5 million — was too high to be absorbed by the market. Only two aircraft were produced, the third prototype (LV-X134), to be built by FMA, was stopped at 80% (est.) of building and now is stored in Argentina.
