Wednesday, November 17, 2010

DTN News: Embraer Sees China Buying 950 Regional Jets Over 20 Years

Defense News: DTN News: Embraer Sees China Buying 950 Regional Jets Over 20 Years
Source: DTN News - - This article compiled by Roger Smith from reliable sources Reuters
(NSI News Source Info) ZHUHAI, China - November 17, 2010: Embraer (EMBR3.SA)(ERJ.N), the world's largest maker of regional aircraft, said on Tuesday it expects total demand from China to reach 950 new regional jets over the next 20 years.

The company made the prediction in a forecast for China, where orders for new jets are expected to soar over the next decade as demand for air travel booms.

It said the biggest demand would be for models seating 91-120 passengers, with orders for an estimated 505 planes over the next 20 years, according to a statement released at an airshow in the south China city of Zhuhai.

It said China would require another 425 planes seating 61-90 passengers over that period, while demand for planes seating 30-60 passengers would number about 20.

Embraer has delivered a total of 77 out of 105 firm orders to China, making it a major supplier of airplanes with up to 120 seats.

"China's booming economy fosters the development of its regional aviation market, which generates great opportunities for players in the aviation industry, said Guan Dongyuan, president of Embraer China.

Embraer's pipeline of firm orders plunged 23.5 percent to $15.3 billion in the third quarter from $20 billion a year earlier and edged up only slightly from $15.2 billion in the prior quarter as airlines remain hesitant about the strength of the global economic recovery.

*This article is being posted from Toronto, Canada By DTN News ~ Defense-Technology News, contact:
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