14 February 2014
Embraer S.A. (NYSE: ERJ) said it has signed a definitive agreement with India´s Air Costa for a firm order for 50 E-Jets E2s with an additional 50 purchase rights.
The acquisition is a mix of 25 E190-E2s and 25 E195-E2s and has an estimated value of USD 2.94bn based on 2014 list prices. The purchase rights are for an additional 25 E190-E2s and 25 E195-E2s, bringing the total potential order to up to 100 aircraft and can reach USD 5.88bn if all are exercised.
Air Costa is part of the privately held LEPL Group, a diversified entity with interests in property development and infrastructure development in the commercial, residential, education, power and health sectors. The airline commenced scheduled services in October 2013 and operates Embraer E-Jets to tier one and tier cities in India.
In July, 2013, Embraer launched the E-Jet E2 family of aircraft, the second generation of its successful E-Jet family of commercial aircraft. For more highlights on the E2 generation of E-Jets visit www.embraercommercialaviation.com/E2