Thu, Jul 19, 2018
Contract Has A Value Of $9.3 Billion Based On Current List Prices
Embraer and Republic Airways have signed a Letter of Intent (LoI) for a firm order of 100 E175, with the right to convert to E175-E2 aircraft, and purchase rights for an additional 100 E175 aircraft. If all purchase rights are exercised, the contract has a value of up to $9.3 billion based on current list prices. This order will be included in Embraer’s backlog as soon as it becomes firm, later this year.
“We are pleased to expand our partnership with Republic as one of our largest and most valuable customers,” said John Slattery, president & CEO, Embraer Commercial Aviation. “With a relationship spanning 20 years, we are immensely honored to continue being an integral part of their success as they expand their fleet with additional E175s. Republic is a critical component of Embraer’s history and we are absolutely committed to providing a product that appeals to their customers while delivering solutions that increase profitability.”
“Over the past two decades we have acquired more than 350 jets through our partnership with Embraer,” said Bryan Bedford, Republic’s president and CEO. “Through this partnership we have delivered industry leading safety, service and reliability to our codeshare partners, and this order positions Republic to focus on the next stage of growth in the North American regional market. The E-Jet has proven to be a product that allows Republic to provide a reliable and seamless product experience with our mainline partners, and when coupled with our 5,500 dedicated aviation professionals, it delivers on our long-term vision of being the regional airline of choice.”
Republic Airways and Embraer established their partnership in 1999 when one of its former subsidiaries, Chautauqua Airlines, took delivery of its first ERJ 145 in the livery of US Airways Express. Today, Republic Airline operates a fleet of nearly 190 Embraer 170/175 aircraft and provides fixed-fee flights operated under its major airline partner brands of American Eagle, Delta Connection and United Express.
Including this new contract, Embraer has sold more than 520 E175s to airlines in North America since January 2013, earning more than 80% of all orders in this 70-76-seat jet segment.
(Image provided with Embraer news release)
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