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Embraer Says Aircraft Financing `Difficult´ for Some Customers

Embraer Says Aircraft Financing `Difficult´ for Some Customers

Sept. 29 (Bloomberg) - Empresa Brasileira de Aeronautica SA, the world´s fourth-largest aircraft maker, said tightening credit markets are making plane purchases difficult for some buyers.

``Some customers have said they are facing more difficulties in financing, but we haven´t seen any impact on our business,´´ Chief Executive Officer Frederico Fleury Curado said in an interview in Singapore today. He reiterated his delivery target of 215 aircraft for this year.

Embraer, as the company is also known, has had some deliveries postponed by customers including Jet Blue Airways Corp. and Virgin Blue Holdings Ltd., and has accelerated deliveries to other customers in response, Curado said. Financial market upheaval including the $ 85 billion government takeover of insurer and aircraft lessor American International Group Inc. has led lenders to limit access to borrowing.

No Embraer orders have been canceled and Curado reiterated next year´s delivery forecast of 350 planes. The Sao Jose dos Campos, Brazil-based aircraft maker expects global sales of business aircraft to total 13,150 planes, worth 0 billion, over a 10-year period from 2007.

``Nobody is immune to what happens in the U.S. For now, we´re keeping our estimates for 2009,´´ Curado said. ``If things deteriorate more, who knows?´´

The company shipped 97 planes in the first half of this year and will review its delivery forecast in November, he added.

/ Новости