During Chinese President Xi Jinping’s State visit to Brazil, Embraer S.A. concluded an agreement for the sale of 40 aircraft to China’s Tianjin Airlines, a subsidiary of the HNA Group. The contract, with an estimated value of US$2.1bn at list prices, is comprised of 20 E-Jets and 20 E-Jets E2, which also makes HNA Group Tianjin Airlines the first Chinese airline to order the E-Jets E2 model. The first current generation E-Jet will be delivered in 2015, and the first E-Jet E2 is scheduled for delivery in 2018.
Embraer also inked a sales agreement for up to 20 E190-E2 Jets with China’s ICBC Financial Leasing. The agreement covers ten firm orders and ten purchase rights. The firm orders for the first 10 aircraft will be included in Embraer’s 2014 third quarter backlog. The E190-E2 is the first model of the E-Jets E2 family to enter into service. The value of the contract is US$1.1bn at list prices if all purchase rights are converted to firm orders. Deliveries are scheduled to begin in 2018.
