Las Vegas, Nevada, USA, October 10, 2011
– Embraer signed a firm order for 13 Legacy 650 executive jets with China’s Minsheng Financial Leasing Co., Ltd., in a ceremony held, today, at the 64th Annual NBAA Meeting & Convention, in Las Vegas, Nevada, in the United States. The first aircraft is expected to be delivered by the end of this year, with the remainder to be delivered within the next five years.
In July 2011, the two parties signed a Memorandum of Understanding for the purchase of up to 20 aircraft, from entry level to ultra-large executive jets. “It is inspiring and encouraging to have this firm order for 13 Legacy 650s from Minsheng, marking a significant advancement, not only in terms of partnership between the two parties, but also in terms of Embraer’s business development in China. The deal demonstrates strong confidence in our Legacy 650 by Chinese industrial players and reaffirms Embraer’s belief in this strong and promising market
,” said Ernest Edwards, President, Embraer Executive Jets.
“The order for 13 Legacy 650s enhances our strategic cooperation with Embraer, as one of the major initiatives for our company: to be the top executive aviation leasing institution in Asia. We hold full confidence in the prospects for Embraer’s Legacy 650 in the Chinese executive aviation market, which will surely attain increasing recognition from our customers here in China
,” said Kong Linshan, Chairman of Minsheng Financial Leasing Co., Ltd.
The Legacy 650, which entered service in late 2010, is a new addition to Embraer’s executive jets family. With a range of 3,900 nautical miles (7,223 kilometers), it can fly with four passengers, under NBAA IFR conditions, nonstop from Beijing (China) to Dubai (United Arab Emirates), from Hong Kong (China) to Adelaide (Australia), or from Dubai to London (UK). The aircraft features the highly integrated Honeywell Primus Elite™ avionics suite, which greatly reduces pilot workload and enhances flight safety. The Legacy 650 offers three comfortable cabin zones that allow up to 14 passengers to work or rest in a spacious area. A fully equipped wet galley and the largest in-flight accessible baggage compartment in its class are other value-added highlights. Cabin noise levels are reduced significantly with a state-of-the-art sound insulation package. The Legacy 650 performs as an ideal business partner with Wi-Fi technology that makes it easier to transfer large files, stream videos, and make and receive calls via VoIP.About Minsheng Financial Leasing Co., Ltd.
Minsheng Financial Leasing Co., Ltd. (MSFL), was established in April 2008, and is one of the first five financial leasing companies approved by the China Banking Regulatory Commission (CBRC) in China. Sponsored by China Minsheng Banking Corporation Ltd. (CMBC), MSFL total registered capital is USD 501 million (RMB 3.2 billion).
Currently, MSFL assets total USD 8.15 billion (RMB 52 billion), and the company has become the leader in the respective market sectors of China’s leasing industry. As the main non-banking financial institution to engage in financial leasing, MSFL has a staff of experts specializing in shipping, aviation, large equipment manufacturing and other fields to provide professional and quality financial leasing products and services to large and SME domestic and overseas enterprises.
Since its inception, MSFL has adopted the concepts of professionalism and efficient management. According to market demands, the company reacts with innovation, vitality and flexibility to provide quality and complete leasing services to customers. MSFL has established a good brand image in the industry and is widely acclaimed by clients.
Note to Editors
Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) is the world’s largest manufacturer of commercial jets up to 120 seats, and one of Brazil’s leading exporters. Embraer’s headquarters are located in São José dos Campos, São Paulo, and it has offices, industrial operations and customer service facilities in Brazil, China, France, Portugal, Singapore, and the U.S. Founded in 1969, the Company designs, develops, manufactures and sells aircraft and systems for the commercial aviation, executive aviation, and defense and security segments. It also provides after sales support and services to customers worldwide. On June 30, 2011, Embraer had a workforce of 17,194 employees – not counting the employees of its partially owned subsidiaries – and its firm order backlog totaled USD 15.8 billion.
This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect Embraer’s businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where Embraer does business; expectations on industry trends; the Company’s investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words “believe”, “may”, “is able”, “will be able”, “intend”, “continue”, “anticipate”, “expect” and other similar terms are supposed to identify potentialities. Embraer does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can therefore differ substantially from those previously published as Embraer expectations.