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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (30466)	3/31/2003 3:16:59 AM
From: elmatador	Respond to of 74559

And you tell me that after the bubble busted! :-)

To: energyplay who wrote (30466)	3/31/2003 5:48:19 AM
From: elmatador	Respond to of 74559

Embraer and Bombardier may profit form airlines' restructuiring. Embraer bullish on its prospects By Jonathan Wheatley in São Paulo Published: March 28 2003 4:00 \| Last Updated: March 28 2003 4:00 Embraer expects to increase sales of regional jets to global airlines as they restructure to meet reduced passenger traffic, Maurício Botelho, chief executive of the Brazilian jet maker, said. "The global aviation industry faces tough challenges that will force it to restructure," Mr Botelho said yesterday. "In this scenario we are perhaps the best positioned [among aircraft manufacturers] to benefit." Embraer has suffered a period of depressed sales and its order-book was further reduced this week when Swiss International Airlines halved firm orders for a new family of 70- to 108-seat jets and cut additional options to buy 100 jets to 20. US Airways is set to come out of Chapter 11 protection on March 31, pending judicial approval. It has reached agreement with GE Capital to finance purchases of regional jets in exchange for a 5 per cent equity stake. Embraer is seen as strongly placed to benefit. American Airlines, the US carrier, is an Embraer customer and could place further orders if, as expected, it restructures similarly to US Airways, said Carl Weaver of Bear Stearns in São Paulo. Embraer reported sales held relatively firm last year as it delivered previously ordered aircraft. But the number of new orders fell to 40 from 86 in 2001. Embraer reported reduced net profits last year of $222.6m, down from $328.4m in 2001. Fourth-quarter earnings fell to $77.4m from $89.5m a year earlier. Net profits in local currency increased to R$1.18bn in 2002 from R$1.1bn in 2001, reflecting last year's devaluation of the real.