Embraer has reported its third successive profitable quarter, confirming its recovery after eight years of losses. The Brazilian aircraft manufacturer saw a $19.9 million profit on sales of $230 million.
"This shows that our recovery is definitely here to stay," says president Mauricio Botelho. Losses were $330 million in 1994 when the company was privatised, but had been reduced to $14 million by the end of last year. Embraer expects to be profitable this year.
Botelho forecasts sales of $1.5 billion in 1998, up from some $766 million last year.
Source: Flight International
