Embraer sees business potential of $14 bln in Mid East by 2030
DUBAI (Reuters) - Brazil's Embraer SA (EMBR3.SA), the world's third-largest commercial planemaker, expects to generate business worth $14 billion from the Middle East region by 2030, a top official said on Sunday.
The Sao Jose dos Campos, Brazil-based firm, which exports most of its planes, sees demand of 310 jets in the 60-120 passenger jet segment in the region from 2011 to 2030, Mathieu Duquesnoy, vice president of commercial aviation for Middle East and Africa said at the Dubai Air Show.
The company opted to upgrade the engine in its E-170 and E-190 jets instead of designing a bigger, brand-new family of airplanes that would have taken on larger rivals, it said on Friday.
Embraer is aiming for E-jet entry into service in 2018 and is in talks with Pratt & Whitney, CFM and Rolls Royce (RR.L) to re-engine E-Jet, Paulo Cesar Souza e Silva, president of Embraer's commercial aviation said. CFM is a joint venture between General Electric (GE.N) and France's Safran (SAF.PA).
Embraer delivered 28 commercial aircraft and 18 executive jets in the third quarter. It competes with Canada's Bomardier Inc (BBDb.TO) in the regional jet space business.