logo
Share SHARE
FONT-SIZE Plus   Neg

Embraer, Sierra Nevada Win $427 Mln Afghan Fighter Contract

U.S.-based Sierra Nevada Corp. and Brazil's Embraer-Empresa Brasileira De Aeronautica SA (ERJ) have won a $427 million contract to provide light air support aircraft and associated maintenance and training for the Afghan air force, Pentagon Press Secretary George Little said Wednesday.

Deputy Defense Secretary Ashton Carter called Brazilian Minister of Defense Celso Amorim to inform about the decision made by the United States Air Force.

Sierra Nevada Corp. is based in Sparks, Nevada, while Embraer SA is its Brazilian subcontractor.

As per the contract, 20 aircraft are scheduled to be delivered to operational air bases in Afghanistan beginning in the summer of 2014 to conduct advanced flight training, surveillance, close air support and air interdiction missions.

Little said this platform ''is critical to providing enabling support to the Afghan National Security Forces as part of United States enduring support to Afghanistan following the completion of the ISAF mission at the end of 2014.''

ERJ closed up 3.6 percent at $33.90 on Wednesday.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
French car maker Renault SA reported Friday higher profit in its fiscal 2015, with strong growth in automotive profit and revenues. The company announced higher dividend. Looking ahead, for fiscal 2016, Renault expects to increase group revenues at constant exchange rates and improve group operating margin. Shares of Rolls-Royce Holdings Plc were gaining around 13 percent in the morning trading in London after the engine maker reported more-than doubled profit in its fiscal year 2015, with lower one-time items. Underlying earnings were hurt by weakness in Marine markets. Further, the company halved its dividends, and still expects lower revenues next year. German steel giant ThyssenKrupp AG reported a loss in its first quarter, compared to last year's profit as sales and orders were hurt by sharp deterioration in materials businesses. The company said its overall performance in the first quarter was within its full-year forecast corridor. Looking ahead, the company continues to expect higher net income and flat sales for fiscal 2016.
comments powered by Disqus
Follow RTT