Brazilian planemaker Embraer said Tuesday its financial health will be sound for another two years after the United Airlines decided to buy 30 of its airplanes, with an option to buy another 40.
"With this order, we ensure current production levels for next year," Embraer President Frederico Curado told a gathering of financial analysts, a day after the company reported a nearly 70 percent loss in profits year on year in the the first quarter.
He said the 1.2 billion-U.S.-dollar contract with United Airlines could be worth 2.9 billion dollars if the U.S. carrier opts to purchase another 40.
According to the agreement, Embraer will deliver 18 E-175 airplanes in 2014 and another 12 by 2015, each 76-passenger craft to be used for domestic flights within the U.S.
