Due to the economic crisis and increased maintenance costs, Brazil is retiring its aircraft carrier. The Brazilian Navy announced on February 14th that the Clemenceau class BNS São Paulo (A 12) aircraft carrier will be retired in the next three years. BNS São Paulo's ten-year renewal program was cancelled due to financial instability. The statement also emphasized that acquisition of the new aircraft carrier is not the first priority of the Brazilian Navy. Reportedly, the first two priorities of the navy are the submarine and Tamandaré class corvette programmes, which are part of the 'Construção do Núcleo do Poder Naval' project. After these projects, Brazil aims to build two indigenious aircraft carriers with about 50,000 tons of displacement.