Brazilian airline reports ‘record’ profits
A Brazilian airline has reported record profits today, according to new reports.
Low-cost airline Embraer has announced that its profits have "nearly doubled" in the third quarter of 2007 compared with 2006, partly owing to a "jump" in deliveries and lower operating costs.
Net income for the firm increased by $175.2 million (£84.6 million) in the third quarter of 2007, up from $92.6 million (£44.7 million) in the same period of 2006 – good news for the Brazilian aviation industry.
Embraer, which is also the world’s largest manufacturer of commercial jets, has experienced a strong month in trading as it announced at the Dubai Air Show that it has received an order from Spanish travel group Globalia for 11 executive jets.
The order for eight Phenom 100s, two Phenom 300s and one Legacy 600 is said to be worth $62.31 million (£30.09 million).
Brazil’s growing tourist industry will no doubt be pleased by the advances in the nation’s aviation industry, which will improve access to the country for travellers.
Improved travel links and increased tourism may well benefit the country’s real estate sector, raising property prices as more holidaymakers jet to the tropical climates and sandy beaches of Brazil, looking to rent holiday homes.
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