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Embraer Sells Six More Embraer 195 Jets to Be Operated by Air Europa

Posted on: Tuesday, 2 December 2008, 14:45 CST

SAO JOSE DOS CAMPOS, Brazil, Dec. 2 /PRNewswire-FirstCall/ -- Embraer signed a firm order with Globalia, owned by Juan Jose Hidalgo, President of JJH Capital and Air Europa, for an additional six EMBRAER 195 jets, to be operated by Air Europa, a subsidiary of Globalia. The deal is valued at US$ 237 million, at list price, based on January 2008 economic conditions, and converts the purchase rights originally announced in February 2008. This transaction is already included in Embraer's third quarter firm order backlog as "undisclosed".

"This is great news for Embraer and we are very pleased to broaden our relationship with Air Europa. The company's decision to further expand its E- Jets fleet makes us really proud," said Mauro Kern, Embraer Executive Vice President, Airline Market. "I'm sure the EMBRAER 195 will nicely complement their wide and narrow body fleets and will play an important role in their expansion plans."

The new EMBRAER 195 will be flown by Air Europa on short and medium routes in Spain, the Balearic and Canary Islands, and Europe. Delivery of the first aircraft confirming a purchase right, should take place by mid-2010. Air Europa will be the first operator in the world to fly the EMBRAER 195 in a single-class, 122-seat layout.

"The E-Jets are a proven product and we are confident the EMBRAER 195 is the right aircraft to achieve our strategy of growing our network," said Maria Jose Hidalgo, General Director of Air Europa. "Configured with 122 seats, the aircraft offers a highly competitive cost-per-seat against the larger narrowbodies, without compromising efficiency or passenger comfort."

It is noteworthy that one aircraft from the original order of six has been sold by Globalia to an undisclosed customer, resulting in a fleet of 11 EMBRAER 195 jets when all deliveries are completed.

The EMBRAER 195 entered service in September 2006, and is the largest aircraft of the four-member E-Jets family. On September 30, 2008, Embraer had logged 865 firm orders and 813 options for the E-Jets family. With a total of more than 450 aircraft delivered to date, the family has accumulated a customer base of 52 operators in 34 countries, worldwide, surpassing 2 million flight hours.

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.

SOURCE Embraer

Source: PR Newswire

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