Business Services Industry
Embraer sells 22 aircrafts for US$350mil.
South American Business Information, June, 2002
Brazil , Jun 11, 2002
The Brazilian aircraft manufacturer Embraer has recently sold 15 jets for 37 passengers and 7 jets of 50 seats to Wexford Capital LLC in a move worth US$350mil. Wexford considers buying other 30 jets, which would increase this figure to US$900mil. Embraer has revised its plans of delivering 135 aircraft this year and 145 in 2003, due to the September 11' attack. Despite that, the low demand in the USA is benefiting the Brazilian company as there is a replacement of big sized jets by small ones. The US investments and funds managing company Wexford Capital LLC controls the company Chautauqua Airlines, which will operate the new jets. USA is the main Embraer' importer, with 632 orders since 1996, 367 of which already delivered.
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