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Brazil’s Treasury Secretary Mansueto Almeida on Tuesday denied that plane maker Embraer is in trouble and faces a difficult future after the recent collapse of the $4.2 billion sale of its commercial jet arm to Boeing.

Speaking in an online discussion hosted by consultancy Arko Advice, Almeida said he was unaware of reports that Embraer is in talks with development bank BNDES over a $1 billion rescue package. Embraer confirmed on Tuesday it is considering a range of financing options, including with the BNDES.

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