Embraer says nothing concrete about deal with Paramount

Sao Paulo: Brazilian aircraft-maker, Embraer, has denied that it was close to reaching an agreement with Indian regional carrier, Paramount Airlines, for a $2 billion worth of orders for its regional jets. The denial contradicts the message sent out by Paramount executives earlier on in the month.

"We've been talking with them for a long time, but there's nothing concrete, nothing to announce," Frederico Fleury Curado, the new chief executive officer of Embraer, said.

The Embraer chief also said that there were preliminary signs of a slowdown in demand for commercial planes, but the long-term outlook remained positive. He said that the company was racing to meet deliveries.

"There has been a certain stabilisation of airfares and traffic in the world's biggest market, the US, though at high levels," said Curado.

Curado took over from earlier chief, Mauricio Botelho, in April this year.

As for the Paris Air Show, Embraer, which is also the world's fourth-largest producer of commercial planes, doesn't have any firm plans to announce new orders, though Cuardo said that his team was trying to conclude two deals.