Embraer Wins Order
from India's Jet Air (25 Jul
2002)
Brazilian aerospace company Embraer has clinched its first
major aircraft deal in Asia, with an order for 10 of its new
175 series aircraft with options for an additional 10 from India's
fast growing private domestic airline, Jet Airways.
The order is worth about US$260 million and may
reach US$520 million if the options are all converted.
Jet Air's selection of the Embraer 175 provides
Embraer with its first entry into the Asia market, described as
a 'remarkable milestone' by the aircraft maker's president and
chief executive officer Mauricio Botelho.
Embraer has been specialising in the emerging 60
to 120 seater small aircraft market, and the Jet Air deal may
mean that Embraer has chosen the right path in the design of its
new commercial jet family, offering a combination of flexibility,
comfort, performance and pricing.
The Embraer 175 has four main doors and no over-wing
exits so as to offer airlines maximum cabin configuration flexibility
for dual class, single class or high-density seating arrangements.
Jet Airways is India's largest private domestic
airline, operating an average of about 240 flights per day and
connecting 41 destinations within India. The airline has one of
the youngest fleets in Asia.
The award winning airline has achieved a market
share of less than 50 per cent of the Indian domestic market in
a short span of nine years, giving the state-owned Indian Airlines
a run for its money.
Tthe Indian domestic air market has huge growth
potential and he was optimistic about the 'rapid growth of markets
that require a 70-80 seater aircraft'.
Deliveries are expected to begin in the third quarter
of 2004 and stretch through to 2007.
The Sao Paulo headquartered aerospace company is
Brazil's largest exporter and currently has an order book of US$10
billion and US$13.7 billion in options.
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