The deal is valued at US$ 237 million, at list price, based on January 2008 economic conditions, and converts the purchase rights originally announced in February 2008. This transaction is already included in Embraer's third quarter firm order backlog as "undisclosed".
"This is great news for Embraer and we are very pleased to broaden our relationship with Air Europa. The company's decision to further expand its E-Jets fleet makes us really proud," said Mauro Kern, Embraer Executive Vice President, Airline Market. "I'm sure the Embraer 195 will nicely complement their wide and narrow body fleets and will play an important role in their expansion plans."
The new Embraer 195 will be flown by Air Europa on short and medium routes in Spain, the Balearic and Canary Islands, and Europe. Delivery of the first aircraft confirming a purchase right, should take place by mid-2010. Air Europa will be the first operator in the world to fly the Embraer 195 in a single-class, 122-seat layout.
"The E-Jets are a proven product and we are confident the Embraer 195 is the right aircraft to achieve our strategy of growing our network," said Maria Jose Hidalgo, General Director of Air Europa. "Configured with 122 seats, the aircraft offers a highly competitive cost-per-seat against the larger narrowbodies, without compromising efficiency or passenger comfort."
It is noteworthy that one aircraft from the original order of six has been sold by Globalia to an undisclosed customer, resulting in a fleet of 11 Embraer 195 jets when all deliveries are completed.
The Embraer 195 entered service in September 2006, and is the largest aircraft of the four-member E-Jets family. On September 30, 2008, Embraer had logged 865 firm orders and 813 options for the E-Jets family.
With a total of more than 450 aircraft delivered to date, the family has accumulated a customer base of 52 operators in 34 countries, worldwide, surpassing 2 million flight hours.