financetom
Business
financetom
/
Business
/
Brazilian planemaker Embraer targets defense jet sales in Mexico visit
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazilian planemaker Embraer targets defense jet sales in Mexico visit
Oct 2, 2024 9:53 PM

MEXICO CITY (Reuters) - Brazilian planemaker Embraer ( ERJ ) views Mexico as a prime market for its Super Tucano and C-390 defense aircraft, the company's head said on Monday.

Embraer ( ERJ ) CEO Francisco Gomes Neto said that the planemaker, the world's third-largest, was in active talks with Mexico's government and had brought a C-390 to the country for demonstration flights.

The C-390 is known as a multi-mission aircraft, and competes with Lockheed's C-130.

"We believe it can be a great solution for Mexico," Gomes Neto told Reuters during a visit to Mexico ahead of incoming President Claudia Sheinbaum's inauguration.

The executive did not say how many of each aircraft it was looking to sell to Mexico.

If Mexico were to tie up a purchase of the lighter Super Tucano aircraft, which Gomes Neto highlighted for its use as a training aircraft or for border surveillance, it would join a number of other Latin American countries firming up orders in recent months.

Gomes Neto said that it was also eyeing business jet sales in Mexico, the world's third-largest market for such aircraft.

"We expect to grow our fleet in Mexico by 11% in the next two years," he said.

Embraer ( ERJ ) tied up a $750 million order in June for 20 E2 jetliners to Mexico's military-run commercial airline Mexicana.

Gomes Neto shrugged off concerns from analysts about the stability of the deal, considering Mexicana's alleged failure to pay back a U.S. contractor.

"We are working with Mexicana very closely, we really want this operation to be a great success to show the market how good the aircraft is," he said.

The executive also said that Foreign Minister Alicia Barcena had met with the firm earlier this year in Brazil and that "she was very positive about the future of Mexicana."

"Embraer ( ERJ ) is looking for a win-win situation in doing business with Mexico," he added.

(Reporting by Kylie Madry in Mexico City)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Copyright 2023-2026 - www.financetom.com All Rights Reserved