Embraer Starts Selling Two New Light Jets
Friday June 24, 6:32 pm ET
Brazil's Embraer Starts Selling Two New Types of Light Aircraft; Both Still Under Development
SAO PAULO, Brazil (AP) -- Brazil's Embraer, the world's fourth-largest commercial jet maker, said Friday it has started selling two new types of light aircraft as it seeks to reinforce its position in the corporate jet market.
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Both aircraft are still under development, but potential customers can make a deposit to secure a delivery date, the company said in a statement.
Embraer's very light jet, or VLJ, is expected to start service in 2008, with a price tag of $2.75 million and maximum capacity of eight people. The aircraft will use engines from Pratt & Whitney Canada, a unit of United Technologies Corporation.
The VLJ's range, with four people on board, will be about 1,160 nautical miles (1,340 miles), Embraer said.
Embraer's light jet, meanwhile, should start service in mid-2009, and is priced at $6.65 million, Embraer said. It will also use Pratt & Whitney's engines, carrying up to nine people, with a range of about 1,800 nautical miles (2,080 miles) with six people on board.
The company said it expects to unveil the names for the aircraft later this year.
Late Friday afternoon, Embraer's American Depositary Receipts were down 1.7 percent at $31.50.
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