Embraer closes $ 3.2 billion agreement to sell 60 planes

Brasilia Embraer signed yesterday two aircraft sales contracts EMB190 to two Chinese companies.
Will be 20 planes to the leasing company ICBC and other 40 for the Tian-Jin Airlines, in a deal worth $ 3.2 billion. The agreement will allow the Brazilian company produce planes again in China, solving a problem that comes from the Government of Luiz Inácio Lula da Silva, when the company was unauthorized to continue producing the EMB145. Came to create the expectation of an order for 50 planes during the visit of President Dilma Rousseff to China in 2011, but the deal didn't go through because the buyer company was undergoing a restructuring. The acquisition of aircraft and 40-190 and 190E 2 E-20-by Tianjin Airlines and other 20 E-190 by the leasing company of the Industrial and Commercial Bank of China (ICBC) ended a crisis that unfolded for six years.
Since 2008 the Embraer factory stopped manufacturing the EMB145 – a plane for 50 passengers – in Hainan, China, because of a lack of orders, and did not obtain authorisation to start the larger aircraft with EMB190 – capacity of more than 100 passengers. The fight dragged on since then and was the subject of the visit of former President Lula, in 2009, and President Dilma Rousseff, in 2011, when the purchase should have been signed. For the Tianjin Airlines, the first planes will be delivered in 2015 and 2018, respectively. The request will be incorporated into the backlog of Embraer as soon as we made the initial payment of the order. "This is another important moment of this long and solid partnership with HNA Group and Tianjin Airlines, the biggest operator of E-Jets in Asia. The new order reinforces the success that the airline is having with the Embraer jets. The significant achievements of Tianjin Airlines and their contribution to the Chinese regional aviation are showcases for the Embraer aircraft, "said Paulo Cesar Silva, President CEO of Embraer & commercial aviation. ATianjin Airlines was the client E190 Launcher in China and operates the largest fleet of E-Jets in Asia, with 50 E190 jets. She was also the first Chinese company appointed by Embraer authorized service center in the country.
Premiere. With the ICBC Leasing, were closed 10 firm orders and 10 purchase rights. Firm orders for the first 10 aircraft will be included in Embraer's backlog in the third quarter of 2014. The E190-E2 will be the first model of the E-Jets family E2 to enter service. The contract value is $ 1.1 billion at list price, if all rights of purchase are converted into firm orders. The first deliveries are planned for the beginning of 2018. Established in 2007 as a wholly owned subsidiary of the Industrial and Commercial Bank of China, the ICBC Leasing owns and manages a fleet of approximately 380 aircraft. In June 2012, the ICBC Leasing acquired 10 business jets Legacy 650, being five purchase options, following a memorandum of understanding signed in April of that year. /L. P, Collaborated Magdalena Gutierrez.

Delivery
The first planes will be delivered to the Tianjin Airlines in 2015 and 2018, respectively. The request will be incorporated to the portfolio of Embraer as soon as we made the initial payment.