Thursday, January 17, 2013

Embraer signs contract with Aldus Aviation

SAO PAULO--Embraer SA  signed a contract with Irish leasing company Aldus Aviation Ltd. for the delivery of as many as 35 airplanes, the Brazilian plane maker said Thursday.

The contract, which can reach a value of up to $1.56 billion, includes a firm order for 20 airplanes--five ERJ 175 planes and 15 ERJ 190 planes--as well as the option to buy another 15 planes in the family of E-jets, which seat 70 to 120 passengers, Embraer said in a regulatory filing.

The firm orders were already included in the company's order backlog for the fourth quarter, which reached $12.5 billion at the end of 2012, Embraer said. At the time it published the firm orders, however, Embraer declined to identify Aldus as the customer.

Aldus exclusively leases Embraer-manufactured planes and has clients in Europe, the Middle East, Australia, and Central and South America, according to the filing.

Embraer also announced Thursday a $211 million contract with Brazil's air force to update five surveillance planes, part of its effort to expand defense contracts as commercial and executive aviation still struggles under a sluggish global economy.


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