Tue, Oct 11, 2011
GECAS E-Jets Portfolio Grows To 101 Aircraft
A contract for six firm orders and six options of the Embraer
190, with the right to convert to the Embraer 195, has been signed
between the Brazilian planemaker and GE Capital Aviation Services
(GECAS), the commercial aircraft leasing and financing arm of
General Electric Company. The total value of the deal, which will
be included in Embraer's fourth quarter of 2011 backlog, is $256.8
million at list price, and could double, if all options are
confirmed. Delivery of these aircraft will begin in the fourth
quarter of 2012.
Embraer 190 File Photo
This new contract expands on the agreement for two Embraer 190
jets, announced last June during the Paris Air Show, which is
included in the Company's third quarter of 2011 backlog. GECAS
presently has 93 E-Jets of all models on lease with 15 airlines
around the world, and its portfolio now comes to 101 E-Jets.
"It's very gratifying for us to see GECAS further increasing its
E-Jets portfolio," said Paulo Cesar de Souza e Silva, President
Commercial Aviation. "GECAS is a long-standing Embraer customer and
partner, and has been playing an important role in the expansion of
the E-Jets customer base through its extensive global network."
"Our customers' fleet needs continually change and it is
important that we have a complete range of preferred aircraft to
meet their evolving requirements," said Norm Liu, GECAS President
and CEO. "We continue to see strong demand for Embraer's E-Jets, as
carriers of all types from around the world expand their
point-to-point services. This order allows GECAS to help these
carriers add to their fleets with the operational and financial
flexibility of leasing. We have built a large base in the regional
sector and we will continue to grow with these customers."
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