Embraer president Mauricio Botelho has declared that the company's privatisation is working after a much-improved set of first-quarter results. Revenues rose by 41% to $76 million, while losses fell back to $26 million. In the first quarter of 1995 the company had racked up losses of $116 million. The institutions which now own Embraer are to inject $115 million to reduce its $500 million debt.


Source: Flight International