Embraer is planning to upgrade the engines and wings on its E-170 and E-190 jets by 2018, instead of designing bigger jets.
The re-engined E-Jets will cost $2bn to develop and will offer better efficiency and performance.
The company said the re-engined planes will be cheaper in comparison to a new plane, which could cost more than $3bn, and may include expanded seating capacity for 132 people, ten more than the biggest current aircraft.
Improvements to the current planes will be carried out in parallel to the second-generation planes and the company is considering equipping them with GE engines, according to Bloomberg.
Embraer’s commercial-jet chief Paulo Cesar de Souza e Silva said the company is also considering a geared turbofan engine from Pratt & Whitney.
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