SAO JOSE DOS CAMPOS, Brazil, Feb. 20 /PRNewswire-FirstCall/ -- Embraer and the U.S. aircraft leasing company Jetscape, Inc., based in Fort Lauderdale, Fla., signed an agreement for the acquisition of ten EMBRAER 190 jets, with options for an additional ten aircraft and another ten purchase rights for the same model. The total value of the agreement is US$ 375 million, at list price, and could come to US$ 1.125 billion, if all options and purchase rights are confirmed. Deliveries are scheduled to start in 2009.
"We welcome Jetscape, a fast-growing leasing company, to our E-Jets customer family, and look forward to building a long-lasting relationship with them," said Mauro Kern, Embraer Executive Vice President, Airline Market. "Jetscape and Embraer will be able to provide more options for airlines to conduct their business with quality products and services and a worldwide customer support base."
Embraer's E-Jets can be configured in a single or dual-class layout, varying from 70 to 122 seats, depending on the airline's requirements. The combination of short, medium and domestic long-range capabilities, high- frequency flights and superior airport performance provides enormous flexibility to the most demanding operators worldwide.
"With the big lessors focused primarily on larger aircraft, this order enables Jetscape to establish itself as a leader in the growing 70 to 120- passenger jet leasing market. Embraer's E-Jets, with General Electric's CF34- 10E series engines, are among the most modern, fuel efficient and technologically advanced jets in passenger service today, and have rapidly gained appeal among both mainline and regional carriers around the world. In addition to offering the best operating economics in their class, with spacious interiors and no middle seats, E-Jets also provide exceptional passenger comfort, giving a competitive edge to our airline customers," said John Evans, Chairman and CEO of Jetscape. "We are convinced of the viability of the leasing market for E-Jets. It's the right size, the right time and the right aircraft for Jetscape and our customers."
The EMBRAER 190 is one of the four members of the E-Jets family, and entered service in August 2005. On December 31, 2007, the EMBRAER 170/190 E- Jets had logged 764 firm orders and 786 options from more than 40 customers in 25 countries on five continents, and had surpassed 1.2 million flight hours.
Embraer confirms its forecast to deliver between 195 and 200 aircraft per year in 2008 and 2009 for the Commercial, Executive, and Defense and Government (state-owned airlines and transportation of government officials) aviation segments. Furthermore, the Company expects to deliver ten to 15 Phenom jets in 2008 and another 120 to 150 in 2009.
This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect Embraer's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where Embraer does business; expectations on industry trends; the Company's investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words "believe," "may," "is able," "will be able," "intend," "continue," "anticipate," "expect" and other similar terms are supposed to identify potentialities. Embraer does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can therefore differ substantially from those previously published as Embraer expectations.
