6 de noviembre de 2014 / 12:57 / en 3 años

Embraer sees no impact on defense unit from any Brazil budget cuts

SAO PAULO, Nov 6 (Reuters) - Embraer SA, the world’s third-largest commercial planemaker, does not expect any budget cuts in Brazil to affect revenue from its contracts with the country’s Air Force, Chief Financial Officer Jose Antonio Filippo told journalists on Thursday.

After a slim re-election victory last month, Brazil’s President Dilma Rousseff is facing pressure to tighten the federal budget in order to avoid a downgrade of the country’s credit rating.

Defense contracts in Brazil and overseas surged to 28 percent of Embraer’s revenue in the third quarter, according to a filing earlier on Thursday. (Reporting by Brad Haynes)

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