Wednesday, July 21, 2010

ERJ, Embraer Flies High: New Orders For 160 Aircraft

Airbus and Boeing announced good orders at the Farnborough Airshow in Britain, but Embraer joins them by announcing the signing of two contracts to supply up to 160 aircraft in an amount estimated at up to $ 5.8 billion.

We track all Latin-American ADRs live here.

Embraer trades in new York as symbol ERJ (click to receive buy/sell alerts).

The orders makes the Company one of the most successful of the exhibition, which marked the resumption of activity of aircraft manufacturers and airlines whihd had been strongly affected by the downturn in the industry and the crises of 07/08.

The largest contract was signed with British European, or Flybe to buy 35 E175 aircraft, whose capacity is 88 passengers. There are also options to purchase another 65 aircraft and purchase rights for 40 units of the same model. The total potential contract with the low cost airline comes to 140. The deal will fluctuate between U.S. $ 1.3 billion and U.S. $ 5 billion.

The second announcement was made jointly with Air Lease Corporation (ALC), which has ordered 20 planes E190 - 15 in five as buying and purchase option. The total value was not disclosed, but considering the list price for the aircraft, it is estimated that the contract would come to $ 798M.

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