Embraer says downturn yet to impact order book
30 Sep 2008
A global downturn notwithstanding, Brazilian aerospace giant Embraer says it is yet to receive order cancellations from customers. The world's third-largest manufacturer of commercial jets behind Airbus and Boeing said it will stick to its projection of between 195 and 200 deliveries of its regional jets during 2008.
Speaking to the media in Singapore yesterday company president and CEO, Frederico Fleury Curado said the availability of credit is the biggest risk facing aircraft manufacturers right now.
"We see signals that the customers' financing options are getting scarce," he said. "But so far we have had no direct impact. If this crisis goes on longer and deeper, then everyone will be affected. But we will have to wait and see."
Curado also remarked that compared the credit crunch was affecting airlines more than regional/business jet manufacturers. "We're seeing less impact on our business jets as those individuals and corporations that we target have easier access to credit, unlike the airlines," Curado said.
The International Air Transport Association has projected that the world's airlines stand to lose a total of $5.2 billion this year. Airbus, which, along with Boeing is one the world's biggest airplane manufacturer, says the downturn may likely impact up to 27 per cent of its order backlog.
