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Embraer cuts jet deliveries for 2009

Brazil-based aircraft manufacturer Embraer has reduced its delivery forecast for 2009 from 315-350 jets to 270 jets.

In addition to that, the company declared that they are expecting $450 million worth of investments next year. Embraer has already spent $407 million in investments for the first eight months of 2008.

However, the global financial crisis is restricting credit, and slowing economic growth at the global scale. The scarcity of funds will more likely lead to client-ordered delays.