– Embraer announced a joint referral program with Bank of America to finance business jets for Embraer’s customers. The announcement was made during the 59th Annual Meeting & Convention of the National Business Aviation Association (NBAA), in Orlando, Florida, United States. The portfolio of Executive Jets includes the very light and light Phenom 100 and Phenom 300 jets, and the super mid-size business Legacy 600 jet.
Under the referral program, the two companies will work together to develop marketing strategies, materials and promotional events. The agreement also enables Bank of America to provide expedited credit decisions for clients purchasing any of the three Embraer planes, with plans for additional aircraft, later.
“Bank of America is pleased to work with Embraer to make it easier for our clients to purchase and secure financing for their business jets,” said Michael Amalfitano, Corporate Aircraft Finance executive at Bank of America. “This agreement means clients can arrange their purchases and financing in a more coordinated manner. Given the global scope of both our companies, we look forward to participating with Embraer in an increasing volume of aircraft sales to corporations and high networth individuals worldwide.”
“We are extremely pleased to work with Bank of America in this joint program and to provide innovative and customized financing solutions to our customers,” said Luís Carlos Affonso, Embraer Executive Vice-President, Executive Jets. “We are confident that the expertise, skills and reputation of Bank of America will serve our customers with speed, flexibility and excellence.”
According to Paulo Cesar de Souza e Silva, Embraer Senior Vice-President, Sales Financing, “Bank of America, with its large experience, expertise and a variety of products for financing business jets will be an important partner for establishing Embraer in the executive jet segment.”
About Bank of America
Bank of America (NYSE: BAC) is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial products and services. The company's Global Corporate and Investment Banking group (GCIB) focuses on companies with annual revenues of more than US$ 2.5 million; middle-market and large corporations; institutional investors; financial institutions; and government entities. GCIB provides innovative services in M&A, equity capital and debt financing, lending, trading, risk management, treasury management and research. Bank of America serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Many of the bank's services to corporate and institutional clients are provided through its U.S. and UK subsidiaries, Banc of America Securities LLC and Banc of America Securities Limited. For additional information, visit www.bankofamerica.com
About Embraer Executive Jets
The Phenom 100 and Phenom 300 Jets
The Phenom 100 and the Phenom 300 jets are best-in-class. Premium comfort, outstanding performance and low operating costs are key design drivers for these jets. Both aircraft will offer pilots and passengers the comfort and style previously unknown in their categories. The relaxing ambience is enhanced by the size of the generous windows and the most ample cabin in their class. Onboard conveniences include a wardrobe or refreshment center, an aft cabin private lavatory with toiletry cabinet, and satellite communications.
The pilot-friendly cockpit and the docile flying characteristics of the two new aircraft will enable single-pilot operation. Drawing from Embraer’s design and engineering heritage, the Phenom 100 and the Phenom 300 will be built for high utilization and availability. For added safety and reliability both jets will offer a standard brake-by-wire system with anti- skid capability.
Based on Garmin’s all-glass, fully-integrated avionics suite, the Prodigy flight deck offers Phenom Jet operators more advantages than any other avionics suite on today’s market. The pilot-friendly cockpit features three interchangeable 12-inch displays – two Primary Flight Displays (PFD) and one Multi-Function Display (MFD). The system integrates all primary flight, navigation, communication, terrain, traffic, weather, engine instrumentation, and crew-alerting system data and presents the composite information in brilliant, sunlight- readable color on three high-definition displays.
The Phenom 100 jet will comfortably accommodate four passengers in the club seat configuration. Its large baggage capacity of 55 cubic feet (1.56 cubic meters) is roomy and will conveniently transport passengers’ luggage, golf bags and skis.
The Phenom 100 is powered by two Pratt & Whitney Canada PW617F engines with 1,615 pounds of thrust each. Its range with four occupants onboard will be 1,160 nautical miles (2,148 km or 1,335 miles) with NBAA IFR reserves, 35 minutes, and 100 nm alternate; or 1,320 nautical miles (2,445 km or 1,519 miles) with NBAA VFR reserves, 45 minutes. The Phenom 100 is capable of flying at 41,000 feet (12,497 m) with a maximum operating speed of Mach 0.70 and is designed for short-field takeoff performance. These characteristics will allow customers to fly nonstop from New York to Miami; from Los Angeles to Vancouver or Denver at a lower cost than competitive aircraft, including turboprops.
The Phenom 100 is priced at US$ 2.85 million, based on January 2005 economic conditions, for FAA certification, and is expected to enter service in mid-2008.
The Phenom 300 jet will be configured to accommodate up to nine occupants with a 76- cubic-foot (2.15-cubic-meter) baggage compartment.
The Phenom 300 is powered by two Pratt & Whitney Canada PW535E engines with 3,200 pounds of thrust each. Its range with six occupants onboard will be 1,800 nautical miles (3,334 km or 2,071 miles) with NBAA IFR reserves, 35 minutes and 100 nm alternate. The Phenom 300 is capable of flying at 45,000 feet (13,716 meters) with a maximum operating speed of Mach 0.78 and is also designed for short-field takeoff performance. These capabilities will permit customers to fly nonstop from New York to Denver or Santo Domingo (Dominican Republic); from Los Angeles to Detroit, Mexico City (Mexico) or Atlanta at a lower cost than competitive aircraft.
The Phenom 300 is expected to enter service in mid-2009 and is priced at US$ 6.65 million, based on January 2005 economic conditions, for FAA certification.
More details about Embraer’s executive jets and a complete Phenom mock-up tour calendar are available at www.embraerexecutivejets.com
The Legacy 600
The Legacy 600 provides premium comfort and privacy for up to 16 passengers in three distinct seating areas. Interior standard features include first-class leather seats, a plush divan, an elegant credenza, and spacious tables for dining or meetings. The aircraft also has a full-size galley for hot and cold meals, a full-breadth aft lavatory, wardrobe and storage cabinet, and an entertainment system with DVD players and satellite telecommunications. High Speed Data (HSD) and Wireless Fidelity (Wi-Fi) optional capability allows customers to browse the Internet, access e-mail and transfer files.
The Legacy 600 baggage compartment with 240 cubic feet (6.8 cubic meters) is one of the largest in the industry and is easily accessible during flights for greater passenger convenience.
The Legacy 600 cruises at a speed of up to Mach 0.80 and offers a range of 3,250 nautical miles (6,019 km or 3,740 miles) with eight passengers and NBAA IFR reserves. This range, bolstered by superior passenger and luggage capacity, enables our customers to fly nonstop from New York (U.S.) to London (U.K.); from London to Dubai (United Arab Emirates); from Moscow (Russia) to Addis Ababa (Ethiopia) at lower operating costs than competitive aircraft with similar cabin size.
Additionally, the Legacy 600 is the largest business jet certified to operate into and out of London City Airport, being capable of flying to Moscow and back with eight passengers. The super midsize twin-engine business jet is based on the successful ERJ 145 regional jet family platform that accumulates ten million flight hours on over 950 aircraft, and counting. With a platform designed to endure an average of 2,500 hours per year, a low operating cost and a track record of over 99 percent dispatch availability, the Legacy 600 offers luxurious comfort and delivers a heritage of high utilization and high availability. Priced at US$ 24.7 million in 2007 economic conditions for FAA certification in a baseline configuration, there are 85 Legacy currently operating in 18 countries.
Also available in Shuttle and Shuttle HC configurations, the Legacy is designed to provide comfort and functionality. The Legacy Shuttle accommodates between 16 and 19 passengers in business-class comfort. The Shuttle HC version enhances owner productivity and comfortably seats as many as 37 passengers in a superior airline-quality interior. Prices for the Shuttle versions range from US$ 18.6 million to US$ 19.35 million, based on 2007 economic conditions, FAA certification, baseline configuration.
Note to Editors
Embraer (Empresa Brasileira de Aeronáutica S.A. - NYSE: ERJ; Bovespa: EMBR3) is the world’s leading manufacturer of Commercial jets up to 110 seats with 37 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the Commercial Aviation, Executive Aviation, and Defense and Government segments. With headquarters in São José dos Campos, State of São Paulo, the Company has offices and customer service bases in the United States, France, Portugal, China and Singapore. Embraer is among Brazil’s leading exporting companies. As of September 30, 2006, Embraer had a total workforce of 18,336 people, and its firm order backlog totaled US$13.3 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 the Company’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 the Company 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. The Company 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 Company expectations.