ADVFN - Advanced Financial Network.
HOME» NYSE » E » ERJ Stock Price » ERJ Stock News

Embraer Empresa Br Share News

 Embraer-empresa Brasileira De Aeronautica S/a Stock Price
ERJ Stock Price
 Embraer-empresa Brasileira De Aeronautica S/a Stock Chart
ERJ Stock Chart
 Embraer-empresa Brasileira De Aeronautica S/a Stock News
ERJ Stock News
 Embraer-empresa Brasileira De Aeronautica S/a Company Information
ERJ Company Information
 Embraer-empresa Brasileira De Aeronautica S/a Stock Trades
ERJ Stock Trades

NetJets Casts Its Eyes On China As Profit Rises 10%

By Doug Cameron Of DOW JONES NEWSWIRES NetJets Inc. is pressing ahead with plans to launch a corporate jet business in China, part of the turnaround plan that saw the Berkshire Hathaway Inc. (BRKA, BRKB) unit deliver a 10% rise in pretax profits for 2011. Columbus, Ohio-based NetJets is the world's largest provider of business jets, selling part-shares in planes and also renting them on a per-use basis, but the last economic downturn brought the company to the brink of collapse before a restructuring that has seen its fleet shrink by 20% over the past four years. "A few years ago NetJets was my number one worry.... These problems are behind us," Berkshire Chairman Warren Buffett wrote in his annual letter to shareholders, published Saturday. Buffett said NetJets saw an unexpected "uptick" in sales during December, though said it remained uncertain if this would be sustained, mirroring the still-murky outlook highlighted in recent weeks by the major business jet makers. It is also canceling some aircraft deals. NetJets, which derives 80% of its revenue from North America and the balance from a Lisbon-based European joint venture, sought regulatory approval last year to launch an operation in China. That market remains small, in part because business-jet flying has been limited by the large tracts of airspace reserved for Chinese military flying and rapid commercial airline growth. The China push was initially led by Jordan Hansell, who was last year elevated from president to become NetJet's chief executive after the unexpected departure of long-time Buffett lieutenant David Sokol in the wake of controversy over his share dealings in Lubrizol ahead of the chemical maker's acquisition by Berkshire Hathaway. "NetJets is proceeding on a plan to enter China with some first-class partners, a move that will widen our business 'moat'," Buffett wrote in his annual letter. The Chinese partners have not been identified. The company had said in the past it was aiming to launch a Chinese business by the end of this year and, having also considered an operation in India, last year dropped a franchise deal with a Saudi Arabian partner to serve the Middle East. Though NetJets shrunk its fleet by around 10% last year, the company also placed its largest-ever order, an initial 50-plane order with Canada's Bombardier Inc. (BDRBF, BBD.B.T, BBD.A.T) worth $2.8 billion at list prices. It also took a further 70 options on the Global series jets, with first deliveries set for the end of this year. Berkshire Hathaway also revealed that NetJet's 2011 earnings were reduced by charges related to the planned sale of some planes and fees related to the cancellation of unspecified aircraft purchases. NetJets' other big order aside from Bombardier was with Brazil's Embraer S.A. (ERJ, EMBR3.BR). NetJets' pre-tax profits rose to $227 million last year, building on the momentum of the recovery after its $711 million loss in 2009. -By Doug Cameron, Dow Jones Newswires; 312-750-4135; doug.cameron@dowjones.com

Stock News for Embraer Empresa Br (ERJ)
DateTimeHeadline
03/27/201519:40:00Embraer files Form 20-F report for the fiscal year ended 2014
03/27/201517:07:48Report of Foreign Issuer (6-k)
03/27/201517:03:08Annual and Transition Report (foreign Private Issuer) (20-f)
03/23/201509:52:54Post-effective Amendment to a Previously Filed F-6. (f-6 Pos)
03/20/201518:13:56Bombardier breakup may be best way to gain liftoff, some analysts...
03/20/201504:14:17Better Capital Acquires CAV Aerospace
03/12/201508:04:02Is Embraer SA Feeling the Pain from Brazil?
03/11/201508:58:54Report of Foreign Issuer (6-k)
03/11/201508:49:31Embraer wins $222M order from Republic Airways
03/09/201518:21:04Embraer's (ERJ) CEO Frederico Curado on Q4 2014 Results - Earnings...
03/05/201517:30:03ADR Shares End Mixed; Aviva Shares Rise
03/05/201506:06:35Report of Foreign Issuer (6-k)
03/04/201522:40:43Embraer S.A. EPS of $0.50
03/04/201518:55:00Embraer Releases Fourth Quarter and Fiscal Year 2014 Results...
02/04/201515:55:04Amended Statement of Ownership (sc 13g/a)
02/03/201511:29:06Report of Foreign Issuer (6-k)
02/03/201510:35:00Embraer KC-390 military transport makes successful first flight
01/26/201510:25:00Amended Statement of Ownership (sc 13g/a)
01/14/201514:17:45Boeing, Embraer Start Program to Promote Alternate Fuels Research...
01/14/201506:05:22Report of Foreign Issuer (6-k)

Embraer Empresa Br and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad