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BRAZIL : Embraer inks US $256.8 million deal with GECAS
Publish Date : 18-Oct-2011
Embraer inked US $256.8 million deal with GE Capital Aviation Services (GECAS), the commercial aircraft leasing and financing division of General Electric Company.
The deal covers six firm orders and six options of EMBRAER 190, with right to convert to EMBRAER 195. The worth of this deal will increase by two times if all options are implemented. At present, GECAS has 93 E-Jets of all models on lease with 15 airlines worldwide. With this deal, its portfolio will now have 101 E-Jets.
Paulo Cesar de Souza e Silva, President of Commercial Aviation, said, “It’s very gratifying for us to see GECAS further increasing its E-Jets portfolio. 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.”
Norm Liu, President and CEO of GECAS, said, “Our customers’ fleet needs continually change and it is important that we have a complete range of preferred aircraft to meet their evolving requirements. 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.”
Embraer is scheduled to start the delivery of these aircrafts in Q4 of 2012.
