Embraer sees credit crunch hitting 2009 jet orders
SAO PAULO (Reuters) - Brazil's Embraer (EMBR3.SA: Quote, Profile, Research)(ERJ.N: Quote, Profile, Research), the world's third largest commercial jet maker, expects aircraft orders to decline in 2009 as credit dries up because of the global financial crisis, Chief Executive Frederico Curado said on Thursday.
The company's order backlog was also likely to show a slight fall in the fourth quarter, he said.
Curado said talks with clients have "intensified" as some airlines have asked for delays in deliveries. Embraer should end 2008 with an order backlog worth $21 billion, with $7 billion coming from new orders this year, Curado said.
In November, the company cut its jet delivery forecast for 2009 to 270 jets from a previous estimate of 315 to 350.
Embraer delivered 48 jets in the third quarter, compared with 47 in the year-earlier period and 52 in the second quarter of this year.
Embraer, short for Empresa Brasileira de Aeronautica, is the world's leading producer of regional jets seating up to 120 passengers. It also makes luxury business jets and military aircraft.
(Reporting by Alberto Alerigi, Writing by Elzio Barreto; Editing by Derek Caney)
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