Transportation Industry

Aircraft Finance & Leasing News - Latin America / Caribbean

AirGuide Business, March 31, 2008

Mar 31, 2008

Embraer

Brazil's Embraer said on Friday its board had approved plans to invest USD$750 million to develop two new business jets, its latest foray into one of the fastest growing niches of the aviation market. The jets, which will fall into the mid--light and midsize categories, will seat between seven and 12 passengers plus two crew members, Embraer said in a statement. Embraer, which got its start manufacturing military aircraft and is now one of the world's top producers of regional jets, has been investing heavily in private planes since 2002 in a bid to diversify its revenue base. With the new jets, temporarily dubbed the MLJ and the MSJ, Embraer will boost its line-up of executive jets to six. It already offers a super midsize model called the Legacy 600, two very light jets known as the Phenom 100 and 300, and an ultra-large luxury private model named the Lineage 1000. The new MSJ midsize jet will be ready to take to the skies in the second half of 2012, while the MLJ mid-light model will go into operation a year later. Embraer's suppliers will help cover some of the investment needed to develop the planes. Mar 29, 2008

Embraer

For his new regional airline JetBlue Airways' Neeleman chose the 118-seat Embraer 195, a stretched version of the Embraer 190 that JetBlue flies. The planes will be outfitted with two leather seats on each side of the aisle and live television broadcasts. Neeleman already placed a USD$1.4 billion firm order for 36 of the planes, with options to buy 40 more. If all options are converted, the value of the deal could surpass USD$3 billion. Mar 27, 2008

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