Brazil aerospace sector seeks to dodge economic turbulence

Brazil may be in the midst of an economic storm, but sitting back in a leather seat on Embraer's latest luxury jet, Gustavo Teixeira says the aviation industry is dodging the turbulence. The crisis "is on our radar but hasn't hurt us," the Embraer executive said in an interview aboard a glistening Legacy 500 jet displayed at the inaugural International Brazil Air Show, held at Rio de Janeiro's Tom Jobim Airport. Brazil, Latin America's biggest economy, may be best known right now for a deep recession, political instability and a mammoth corruption scandal ripping through the political leadership. But the first ever Rio air show, backed by Airbus, Saab, Lufthansa, the IATA travel industry association and other international players, hopes to show that aviation opportunities in Brazil and across Latin America are sky high. "This is the right time. During a crisis, you need to bring people together," said Paula Faria, director of the air show. The country's fleet of commercial planes fell from 727 to 686 in 2016, while the overall stock of planes rose just 0.1% 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.<br/>