Brazil's Embraer aims to lead world executive jet market

0 Comments | AFP, August, 2008

SAO PAULO (AFP) — Brazilian aircraft maker Embraer said Friday it plans to become the world leader in executive jets within the next decade by investing heavily to get a bigger slice of the rapidly expanding market.

The company, currently ranked as the sixth-biggest manufacturer of the planes used by the privileged, sees more than 13,000 of the jets being sold worldwide over the next 10 years, for a total value of 200 billion dollars.

The Embraer vice-president in charge of the executive jets division, Luis Carlos Affonso, told reporters the company was investing 1.15 billion dollars to meet its ambition.

Corporate jets, he said, "are seen not only as luxury objects but also as an important business tool, and that's a rare combination," he said.

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