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Stabroek News

Brazil's Embraer sells 10 jets to Florida's Jetscape
published: Thursday | February 21, 2008

AP:

Florida-based leasing company Jetscape Inc has confirmed the purchase of 10 jets from Brazil's Embraer in a deal worth US$375 million (euro256 million), the aircraft manufacturer said Wednesday.

In addition to the Embraer 190 passenger jets, Jetscape, of Fort Lauderdale, also acquired options for 10 more aircraft and 10 purchase rights for the same model, Empresa Brasileira de Aeronautica SA said in a statement.

If all options and purchase rights are confirmed, the total value of the deal could come to some US$1.1 billion (euro770 million), Embraer said.

Deliveries are scheduled to begin in 2009.

A LEADER

"With big lessors (leasing companies) focused primarily on larger aircraft, this order enables Jetscape to establish itself as a leader in the growing 70 to 120-seat passenger jet leasing market," the statement quoted Jetscape chairman and CEO John Evans as saying.

Embraer also reported that Australia's Virgin Blue Airlines Pty Limited has converted four purchase rights for Embraer 190 jets into firm orders and three purchase rights into options for the same 104-seat model.

The four new firm orders are worth US$150 million (euro102 million) and could reach US$263 million (euro179 million) if all options are confirmed, Embraer said.

The world's No. 4 aircraft manufacturer, Embraer nearly collapsed in the 1990s but added nearly 4,500 workers last year to boost production amid rising demand for its commercial and executive jets.

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