Tags: Embraer | jet | sale | billion

Embraer Snags $2.4 Billion in Trans States Holdings E2 Jet Sale

Monday, 14 Jul 2014 10:15 AM

Embraer SA, the world’s biggest regional jetmaker, agreed to sell 50 second-generation planes valued at $2.4 billion to Trans States Holdings Inc.

Trans States, which controls Trans States Airlines, Compass Airlines and GoJet Airlines, will buy 50 E175-E2 jets, according to a statement today. The accord includes an option to purchase 50 more, bringing the value of the deal to as much as $4.68 billion, at list price. Embraer now has a firm order backlog of 150 E175-E2 jets, including today’s order. It has orders for 50 E190-E2 and 50 E195-E2 planes, according to a filing.

Embraer is betting on its second-generation revamp of its E-Jet family to beat competitor Bombardier Inc.’s new CSeries line of planes. Sao Jose dos Campos-based Embraer estimates the industry will deliver 6,250 planes with between 70 and 130 seats over the next 20 years.

The shares rose 3.5 percent to 22.10 reais at 10:22 a.m. in Sao Paulo, the highest since October 2007.

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Embraer SA, the world's biggest regional jetmaker, agreed to sell 50 second-generation planes valued at $2.4 billion to Trans States Holdings Inc.
Embraer, jet, sale, billion
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2014-15-14
Monday, 14 Jul 2014 10:15 AM
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