Brazil aerospace sector seeks to dodge economic turbulence
Rio de Janeiro hosted its first air show Wednesday in hopes of showcasing the aerospace industry's ability to fly out of the economic storm lashing Brazil.
Latin America's biggest economy may be best known today for a deep recession, political instability and a mammoth corruption scandal ripping through the political leadership.
But the International Brazil Air Show, running until the end of the week, wants to present the country's high-tech success.
"This is the right time. During a crisis, you need to bring people together," Paula Faria, director of the air show, told AFP.
The event at Rio's Tom Jobim International Airport is backed by Airbus, Saab, Lufthansa and the IATA travel industry association, among other international players, talking up the future of Latin American markets.
The Brazilian Aviation Institute conceded that two years of recession had taken a toll.
The country's fleet of commercial planes fell from 727 to 686 in 2016, while the overall stock of planes rose just 0.1 percent to 21,895.
However, the aviation institute's president, Francisco Lyra, said the industry is "resilient" and that Brazil is a sure bet when it comes to air travel investment.
"In a continent-sized country the only practical, efficient way of traveling is by plane," he said in a speech.
Gustavo Teixeira, Latin America sales director for Brazil's high-flying Embraer aviation company, said a global business footprint means it is has not been hit too hard by the domestic crisis.
"We have our headquarters here in Brazil, but we think globally," he said in an interview aboard a new Legacy 500 twin engine jet, which seats up to 12 people and goes for about $21.5 million.
He listed Embraer's factories dotted around the world, saying the Rio air show would "show the strength of Brazilian aviation and of Brazil's aerospace industry."
Embraer is the third biggest airplane manufacturer after Boeing and Airbus, with a particularly strong record in the growing executive jets market.