Embraer gains on Chinese venture speculation – Suppliers Share Wrap
Embraer shares gained 2.9% as speculation continues on the fate of its Chinese manufacturing venture. The Brazilian Government reportedly believes it is unlikely that Embraer will receive permission from the Chinese Government to move from the smaller ERJ-145 to the larger E170/E190 family. If a deal is not made, the Harbin facility is likely to close in 2011, once it finishes with its backlog.
CAE also continued gains, after announcing a number of new full flight simulator orders last week. The stock rose 2.5% yesterday.
Selected Original Equipment Manufacturers daily share price movements (% change): 11-Oct-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance
Air Partner gained 4.7% yesterday, after the leasing and air services company won a contract to be the sole provider of passenger and freight flights for the Department for International Development over the next four years.
Selected Aviation Suppliers & Leasing daily share price movements (% change): 11-Oct-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance