– Embraer has signed a purchase agreement for seven Phenom 100 jets and options to acquire seven additional aircraft of the same model, with the U.S. fractional aircraft ownership company, Executive AirShare, of Kansas City, Mo.. The total value of the agreement, at list price, is US$ 19.95 million, based on January 2005 economic conditions, and can double if all options are exercised. This order was already included in Embraer’s backlog.
“Embraer is very pleased with Executive AirShare’s choice of the Phenom 100 and is happy to offer the right-sized solution for the company’s business, as it expands its fleet,” said Luís Carlos Affonso, Embraer Executive Vice President, Executive Jets. “The Phenom 100’s stylish design offers the comfort that passengers expect and will serve Executive AirShare and its owners very nicely. We look forward to a mutually successful relationship.”
Delivery of the first jet is scheduled for mid-2010. The Phenom 100 Very Light Jet (VLJ) will help Executive AirShare with the strong demand for the company’s concept of fractional aircraft ownership, which now includes customers in the states of Kansas, Missouri, Oklahoma, and Texas. Executive AirShare’s fractional owners have access to their aircraft for a given number of days per year, rather than a strict number of flight-hours per year. Furthermore, customers have the use of the aircraft for an entire day, unlike national ownership planes that fly multiple customers to different locations on the same day with the same aircraft.
“The Phenom 100 is the largest and most capable of all of the VLJ offerings and we look forward to adding this aircraft to our fleet,” said Robert D. Taylor, CEO of Executive AirShare. “Our owners will appreciate the speed, range, cabin layout, comfort, and luggage-carrying capabilities of the Phenom 100.”
About Executive AirShare
Founded in 2001, Executive AirShare currently operates a fleet of 12 aircraft. The company is based at Charles B. Wheeler Downtown Airport, in Kansas City, Mo., and also operates out of Mid-Continent Airport, in Wichita, Kan., Richard L. Jones, Jr. (Riverside) Airport, in Tulsa, Okla., and Fort Worth Meacham Airport, in Fort Worth, Texas. More information is available at www.ExecAirshare.com
Note to Editors
Embraer (Empresa Brasileira de Aeronáutica S.A. - NYSE: ERJ; Bovespa: 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, the United States, France, Portugal, China and Singapore. Founded in 1969, the Company designs, develops, manufactures and sells aircraft for the Commercial Aviation, Executive Aviation, and Defense and Government segments. The Company also provides after sales support and services to customers worldwide. On March 31, 2007, Embraer had a workforce of 21,005 employees and a firm order backlog of US$ 15.0 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.