• 
  • Consolidated Balance Sheets
  • Consolidated Statements of income Yeares Ended
  • Consolidated Statements of Comprehensive Income Years Ended
  • Consolidated Statements of Shareholders' Equity
  • Consolidated Statements of Cash Flow Years Ended
  • Notes To the Consolidated Financial Statements
    • 1. Operations
    • 2. Presentation of the Financial Statements and Accounting Practices
    • 3. Critical Accounting Estimates
    • 4. Accounting Pronouncements not yet Adopted
    • 5. First-time Adoption of IFRS
    • 6. Financial Instruments
    • 7. Cash and Cash Equivalents
    • 8. Financial Assets
    • 9. Trade Accounts Receivable, Net
    • 10. Customer and Commercial Financing
    • 11. Collateralized Accounts Receivable and Recourse and Non Recourse Debt
    • 12. Inventories
    • 13. Other Assets
    • 14. Guarantee Deposits
    • 15. Related Party Transactions
    • 16. Property, Plant and Equipment
    • 17. Intangible Assets
    • 18. Financial Liabilities by Category
    • 19. Loans and Financing
    • 20. Trade Accounts Payable
    • 21. Other Payables
    • 22. Contribution from Suppliers
    • 23. Advances from Customers
    • 24. Axes and Payroll Charges Payable and Income Tax Social Contribution
    • 25. Other Provisions
    • 26. Provisions for Contingencies
    • 27. Post-retirement Benefits
    • 28. Shareholders' Equity
    • 29. Stock Compensation
    • 30. Earnings Per Share
    • 31. Employee Profit Sharing-plan
    • 32. Other Operating (expense) Income, Net
    • 33. Revenue and (expenses) by Nature
    • 34. Financial Income (expense)
    • 35. Foreign Exchange Gains (losses), Net
    • 36. Income Taxesincome Taxes
    • 37. Impairment Test
    • 38. Financial Guarantees
    • 39. Financial Instruments
    • 40. Responsibilities and Commitments
    • 41. Insurance (unaudited)
    • 42. Additional Information of Cash Flow
    • 43. Segment Information
    • 44. Events After the Balance Sheet Date
  • Proposal to the Board of Directors
  • ANNUAL REPORT

Notes to the Consolidated Financial Statements
In millions of U.S. dollars, unless otherwise stated

8. FINANCIAL ASSETS

	12.31.2010			12.31.2009			01.01.2009
	Held for Trading	Held to maturity	Total	Held for Trading	Held to maturity	Total	Held for Trading	Held to maturity	Total
In Reais:
Exclusive investment funds (EIF's)
Private	339.7	-	339.7	5.1	-	5.1	13.0	-	13.0
Public securities(i)	20.3	-	20.3	348.3	-	348.3	128.5	-	128.5
Others	0.5	2.3	2.8	0.4	-	0.4	0.3	-	0.3
Total Reais	360.5	2.3	362.8	353.8	-	353.8	141.8	-	141.8
In U.S. dollars:
Money market funds	117.8	-	117.8	239.7	-	239.7	81.2	-	81.2
Investment funds	234.0	-	234.0	305.4	-	305.4	148.3	-	148.3
Public securities(i)	12.3	21.7	34.0	35.9	43.4	79.3	35.1	42.1	77.2
Others	-	37.0	37.0	0.5	-	0.5	0.6	-	0.6
Total U.S. dollars	364.1	58.7	422.8	581.5	43.4	624.9	265.2	42.1	307.3
Total	724.6	61.0	785.6	935.3	43.4	978.7	407.0	42.1	449.1
Current Assets	724.6	8.9	733.5	934.5	19.3	953.8	371.3	9.5	380.8
Non current assets	-	52.1	52.1	0.8	24.1	24.9	35.7	32.6	68.3

(i) Deposit facility agreements / Securities issued by the Brazilian Government, classified as trading securities.

At December 31, 2010 and 2009 and January 1^st, 2009, the Company held investments in private money market funds. The assets essentially consisted of bonds issued by the Brazilian government, bank deposit certificates and debentures issued by publicly-held companies in Brazil. The funds are exclusively for the benefit of the Company and are managed by third parties who charge a monthly commission. The investments are marked to market daily at fair value through profit or loss, as the Company classifies these investments as held for trading.

These are bonds issued by the Brazilian Government, comprising National Treasury Bills – LTN, denominated in U.S. dollars, acquired by the Company from its customers as an adjustment of the interest rates payable by the Export Financing Program (PROEX) between the 11th and 15th year after the sale of the respective aircraft, recorded at present value. These securities are classified as held to maturity, since the Company intends and has the ability to hold them in portfolio to maturity.

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