Brazils Embraer Sells 60 Commercial Planes to China

Brazil's Embraer Sells 60 Commercial Planes to China

Chinese companies sign agreements Thursday to buy 60 commercial airplanes worth $3.2 billion from Brazilian aviation firm Embraer during a state visit to Brasilia by Chinese President Xi Jinping.

BRASILIA, Brazil -- Chinese companies signed agreements Thursday to buy 60 commercial airplanes worth $3.2 billion from Brazilian aviation firm Embraer (IW 1000/654) during a state visit to Brasilia by Chinese President Xi Jinping.

Xi and Brazilian President Dilma Rousseff oversaw the signing of the deals in Brazilian capital.

Tianjin Airlines, a subsidiary of Hainan Airlines' HNA Group, agreed to buy 20 100-capacity E190 jets and 20 E190E-2 models from Embraer in a deal worth $2.1 billion, according to Embraer.

"This is the most important moment in this old and solid alliance with HNA Group and Tianjin Airlines," Embraer president Paulo Cesar Silva said.

ICBC, China's biggest bank, is purchasing 20 E190 planes for $1.1 billion.

Embraer, one of Brazil's top exporters, is a leading maker of jets that can carry up to 130 passengers.

Copyright Agence France-Presse, 2014

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