Airline Industry

Hainan Airlines reduces orders for Embraer jets

Image via daylife.com

SAO PAULO - Chinese airline company Hainan Airlines Co. reduced an order for jets of Brazilian aircraft manufacturer Empresa Brasileira de Aeronautica SA, or Embraer, the Brazilian company said late Friday in a statement.

"Harbin Embraer has reached an agreement with Hainan Airline to amend the existing contract signed in 2006, readjusting the original firm order of 50 ERJ 145 jets to the new figure of 25 aircraft," said Embraer.

Harbin Embraer is a joint venture created in 2003 by Embraer and China's Harbin in order to produce ERJ 145 jet models for the Chinese market.

"As of April 30, 2009, Harbin Embraer had delivered a total of 12 ERJ 145 jets to Hainan. According to the new agreement, the deliveries have been rescheduled for completion by the first half of 2011, instead of the original plan by the end of 2010," Embraer said.

In the first quarter, Embraer reported a net loss of $23.4 million, reversing a net profit of $85 million in the year-earlier period.

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