Orders for Embraer E-Jets keep rolling in

By Paul Lowe

Singapore Air Show >> February 2008
Aircraft

Brazil’s Embraer announced an order here yesterday from U.S. aircraft leasing company Jetscape for 10 E190 jets, along with options for another 10 aircraft and “purchase rights” for 10 more.

The value of the transaction totals $375 million at list prices, and could reach $1.125 billion if all options and purchase rights are exercised. Deliveries are scheduled to start in 2009.

Jetscape of Fort Lauderdale, Florida, owns and manages 18 aircraft with 11 airline operators in 10 countries on five continents. It opened in 2000 and engages in commercial aircraft leasing, management, remarketing and advisory services 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 market,” 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.”

Embraer also received confirmation from EgyptAir Holding Company for six Embraer 170s, scheduled for delivery beginning in 2009. Embraer announced the original contract, covering six firm orders and the six options now confirmed, in September 2006. The value of the new agreement, at list price, totals $189 million.

The Embraer 170s will come configured with flexible premium-and economy-class cabins, seating 76 passengers and operating under EgyptAir’s newly created subsidiary, EgyptAir Express.

Other business announced yesterday by Embraer included a contract with Australia’s Virgin Blue to exercise four purchase rights for E190s and convert another three into options. That transaction already occupied Embraer’s fourth-quarter firm order backlog as “undisclosed.”

Virgin Blue now operates three E170s and will soon receive its first E190. The firm orders of the Australian airline now total 24 aircraft–six 170s and 18 E190s.
Finally, Embraer and France’s Régional, a wholly owned subsidiary of Air France, inked a deal for one E170 and one E190, confirming options originally taken in August 2007. Both planes are scheduled for delivery in 2009.

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