I second PLA.
Reuters.
Embraer’s India deal should reach $250 mln – official
SAO PAULO, Brazil (Reuters) – The value of the deal Brazil’s jet maker Embraer drafted with India earlier this week should reach $250 million over three years, a company official said on Thursday.
The official, who declined to be named, said India would initially buy three EMB 145 spy planes for its Airborne Early Warning & Control (AEW&C) system, paying over $100 million. The source expected the deal to be signed at the end of this year.
At a second stage that would last about three years, India may buy another four surveillance planes of the same type, said the official, adding that Embraer saw the client’s total potential for its aircraft and services at around $1 billion.
On Tuesday, Embraer said it signed a memorandum of understanding with India’s Defense, Research and Development Organization to support the AEW&C development.
Embraer is the world’s fourth-biggest commercial aircraft maker, specializing in mid-size commercial jets seating up to 110 passengers.
It also makes small military aircraft. As of the end of last year, Embraer had a firm order backlog worth $10.1 billion.
Embraer stock finished practically unchanged on Thursday at 22.08 reais after spiking nearly 10 percent the previous day helped by the India draft deal and an increase in the stock’s target price by some analysts.
Sign In
