MercoPress. South Atlantic News Agency

Brazil's Embraer record sales and doubles profits

Embraer new Phenom 100

Brazilian aircraft manufacturer Embraer this week that profits more than doubled in the second quarter, driven by strong sales of midsize commercial jets and the company's new, popular executive jets.

Empresa Brasileira Aeronatica SA, which is the world's fourth-largest plane maker, reported second- quarter profits of 176 million Real, up 120% from 80 million Real (50 million US dollars) in the same period a year ago. Second-quarter revenue was 2.7 billion Real (1.7 billion US dollars), up 22% from 2.2 billion Real (1.4 billion US dollars). Embraer said its backlog hit a record 20.7 billion US dollars as of June 30, including 6 billion in orders for executive jets. Embraer delivered 52 aircraft during the quarter, up from 36 in the year-earlier period. The company also reaffirmed its estimate that it will deliver 195 to 200 jets this year, including 10 to 15 of its hot new Phenom executive aircraft. Embraer announced in June that it is holding preliminary negotiations to sell the US government eight 314-B1 Super Tucano light attack and training planes for use in Iraq. The company also confirmed that it sold one of the propeller-driven planes to a subsidiary of Blackwater Worldwide, the world's largest security contractor and the target of harsh criticism for its conduct in Iraq.