Credit Crunch Affecting Bizjet Sales
The CEO of Embraer, of Brazil, said at a media briefing in Singapore this week that it's getting harder for some buyers to get access to the credit they need to place orders. "We see signals that the customers' financing options are getting scarce. But so far we have had no direct impact," said CEO Frederico Fleury Curado. The future is uncertain, however. "Nobody is immune to what happens in the U.S.," he said. "For now, we're keeping our estimates for 2009. If things deteriorate more, who knows?" He added that there is no change in the company's plan to deliver 215 aircraft by the end of this year and no current orders have been cancelled. However, some customers have asked for their deliveries to be postponed, including Jet Blue and Virgin, according to Bloomberg News.
Embraer will exhibit full-scale mock-ups of the Phenom 300 and Legacy 500 and a cabin cross-section of the Lineage 1000 at its booth next week at the NBAA convention in Orlando, Fla. Also, the Phenom 100 and Phenom 300 aircraft will be on display on the flight line at Orlando Executive Airport for the first time, along with the Legacy 600.