SAO JOSE DOS CAMPOS, Brazil , May 3 /PRNewswire-FirstCall/ -- Embraer(NYSE: ERJ) today announced that Geneva-based JetBird has acquired 50 Phenom 100 jets and has placed an option for an additional 50 aircraft. The contract allows JetBird to convert its positions into either the Phenom 100 or the Phenom 300.
The value of the contract is in the order of US$ 140 million at list price in January 2005 economic conditions, with a potential of reaching approximately US$ 280 million if all options are converted into Phenom 100. The Phenom 100 is expected to enter service in mid-2008 and JetBird is scheduled to take delivery of its first aircraft in April 2009 .
"One year ago today we launched the Phenom 100 and the Phenom 300 at a ceremony in Washington D.C. We said at the time that Embraer had identified new opportunities in the business aviation segment and announced a portfolio expansion to respond to market needs. There is a significant potential for very light and light jet products in Europe , and we are glad to offer JetBird the Phenom as the right airplane at the right time," said Mauricio Botelho, Embraer President and CEO.
Mr. Domhnal Slattery , Founder and Chairman of JetBird, commented, "JetBird has a clear and compelling vision that will revolutionize the executive travel market in a manner similar to the low-cost airline transformation of the commercial air travel market. JetBird has chosen the Embraer Phenom 100 and 300 aircraft as they are superior to all other aircraft in their class interms of space and comfort. They are also designed to achieve high utilization and efficient turn around times which contribute to lower operating costs and consequently, better value for customers. We will provide an attractive alternative for existing executive jet users, but also bring the executive jet travel experience to a market for whom it has been too expensive. The commercialization of JetBird's vision is in the hands of a capable, international team of industry professionals with unparalleled sector experience. We are delighted to have Embraer as a key stakeholder in our business given its exemplary track record of innovation in aircraft design and production."
With this order, JetBird becomes the European launch fleet customer for the Phenom 100, whose full-scale mock-up interior is being displayed, along with its sister Phenom 300 mock-up, at EBACE 2006.
More details available at http://www.embraerexecutivejets.com
SOURCE Empresa Brasileira de Aeronautica S.A.
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