ORLANDO, Fla., Oct. 17 /PRNewswire/ -- Bank of America and Embraer today announced a joint referral program to promote the sales and financing of Embraer's very light and light jets Phenom 100 and Phenom 300 and the super mid-size business jet Legacy 600. The announcement was made at the 59th annual National Business Aviation Association convention here.
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Under the referral program, the two companies will work together to develop marketing strategies, materials and promotional events. The agreement also enables Bank of America to provide expedited credit decisions for clients purchasing any of the three Embraer planes, with plans to add additional aircraft later.
"Bank of America is pleased to work with Embraer to make it easier for our clients to purchase and secure financing for Embraer executive jets," said Michael Amalfitano, Corporate Aircraft Finance executive at Bank of America. "This agreement means clients can arrange their purchases and financing in a more coordinated way. Given the global scope of both our companies, we look forward to participating with Embraer in an increasing volume of aircraft sales to corporations and high net worth individuals worldwide."
"We are extremely pleased to work with Bank of America in this joint program and to provide our customers innovative and customized financing solutions," said Luis Carlos Affonso, Embraer executive vice president, Executive Jets. "We are confident that the expertise, skills and reputation of Bank of America will serve our customers with speed, flexibility and excellence."
About Embraer
Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE: ERJ; Bovespa: EMBR3) is the world's leading manufacturer of Commercial jets up to 110 seats with 37 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the Commercial Aviation, Executive Aviation, and Defense and Government segments. With headquarters in Sao Jose dos Campos, State of Sao Paulo, the Company has offices and customer service bases in the United States, France, Portugal, China and Singapore. Embraer is among Brazil's leading exporting companies. As of September 30, 2006, Embraer had a total workforce of 18,336 people, and its firm order backlog totaled US$13.3 billion.
In May 2005, Embraer announced the expansion of its executive jets offering, which began with the Legacy 600 in 2001, now totaling 80 deliveries in 18 countries and representing a 13.5% market share of the super midsize category. The Phenom 100 and Phenom 300 jets were introduced targeting the very light and light jet segments. Embraer unveiled the Phenom mock-ups at the National Business Aviation Association (NBAA) convention, held in Orlando, Florida, in November 2005, where they will be exhibited again in this year's edition of the event.
In May 2006, Embraer introduced the Lineage 1000, an ultra-large business jet based on the EMBRAER 190 commercial jet platform. Embraer unveiled plans for the Lineage 1000 at the European Business Aviation Convention & Exhibition (EBACE), held in Geneva, Switzerland.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than $2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity and debt capital raising, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit http://www.bankofamerica.com/
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