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Venezuela’s Conviasa to Buy Embraer, Airbus Planes, Chavez Says

Jan. 22 (Bloomberg) -- Venezuela’s state airline Conviasa will purchase as many as 20 planes from Embraer SA and four used planes manufactured by Airbus SNC to modernize and expand the state-run company, President Hugo Chavez said.

Venezuela has the option of purchasing 10 Embraer commercial planes for $407 million or 20 for $814 million and will begin to negotiate financing with Brazil’s Banco Nacional de Desenvolvimento Economico e Social, Chavez said today on state television during his weekly Alo Presidente program.

Conviasa will purchase the four long-range Airbus models from a state-run airline in the United Arab Emirates for $60 million a plane, Chavez said.

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