Embraer Responsible for 4% of Brazil’s Trade Balance

The Brazilian Aviation Company – Embraer – announced Wednesday, July 27, the delivery of a third jet in the series of 15 model 175 airplanes ordered by Air Canada.

The ceremony took place at Embraer’s headquarters in São José dos Campos, in the state of São Paulo. The first two planes were delivered to the Canadian company last week.


The 15 aircraft were ordered last November by the Canadian company, at the market price of US$ 420 million. The model was checked out last month by the Canadian government, and the company is authorized to use it.


The other 12 planes ordered by the company should be delivered by the end of this year. The company also signed a contract with Embraer reserving 15 more airplanes of the 175 series for a future purchase.


Air Canada also ordered 45 Embraer-190 models, which Embraer expects to start delivering in November. The contract for this jet model is worth US$ 1.35 billion.


In a note released by Embraer, the president of Air Canada, Montie Brewer, declares that the company needs these jets to make its fleet more flexible.


“The Embraer-175 and Embraer-190 jets will allow us to serve our current markets more efficiently, with a more frequent flight schedule and more passenger comfort, as well as searching for new opportunities in the North American market,” Brewer said.


Embraer is currently Brazil’s largest exporter of manufactured goods and accounts for a big share of the country’s trade balance.


Last year the company, by itself, was responsible for 4% of Brazil’s favorable trade balance, a net contribution of US$ 1.4 billion.


The company has yet to calculate the effect of the sales to Air Canada on Brazil’s exports this year. So far the data released by Embraer show that the company has earned net profits of US$ 810 million. The company forecasts it will deliver 145 commercial jets this year.


Agência Brasil

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