This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Embraer Announces A Firm Order For 30 E-Jets By United Airlines

SAO JOSE DOS CAMPOS, Brazil, April 29, 2013 /PRNewswire/ -- Embraer announced today that it has signed a firm order with United Airlines for the sale of 30 EMBRAER 175 jets, with options for an additional 40 of the same model, taking the firm order and options to a total of up to 70 aircraft. If all options are exercised, the combined order has an estimated value of USD 2.9 billion at current list prices.

"With this order for the new enhanced E175 jet, we are delighted to reinforce and extend our long-standing partnership with United Airlines, which was the ERJ 145 launch customer back in 1996, known at that time as Continental Airlines," said Paulo Cesar Silva, President and CEO, Embraer Commercial Aviation. "This order from United, one of the world's leading airlines, validates our investment strategy in the E-Jets, where we offer an optimized product with all of the additional benefits of a proven and mature platform. The E175 has proven itself to be the best product for the U.S. regional market for the next decade and beyond."

The partnership between Embraer and United, which is the product of the 2010 merger of United Airlines and Continental Airlines, started with the sale of  EMB 120 Brasilia turboprops to Continental Airlines in the 1980s. Subsequently, Continental was also the ERJ 145 jet launch customer, eventually acquiring 275 jets, the largest ERJ fleet in the world. Currently, 38 E170s are flying with United's regional partners under the United Express brand.

The E175s will be operated under the United Express brand. The aircraft will be configured in a 76-seat layout. The first delivery is scheduled for the first quarter of 2014.

"At United, we are focused on modernizing our fleet, and we look forward to introducing the E175 to our United Express service. Compared to the 50-seat aircraft we are replacing, these aircraft provide a superior customer experience and are more fuel efficient," said Jim Compton, United's Vice Chairman and Chief Revenue Officer. "With a large first-class cabin, wider fuselage, and larger overhead bins, this aircraft brings an improved regional flying experience to our customers."

As the leader in the 70 to 120-seat jet segment, Embraer continues to invest in the E-Jets family, which is flown by over 60 airlines from more than 40 countries. The Company has begun implementing a series of enhancements to the E175, including new wingtips, systems optimization, and aerodynamic refinements that will lower fuel burn by as much as 5%. Longer maintenance intervals and component improvements will increase aircraft productivity and bring maintenance costs down. All of the United Airlines deliveries will include these enhancements.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,583.55 -296.81 -1.76%
S&P 500 1,935.54 -34.53 -1.75%
NASDAQ 4,380.01 -82.8920 -1.86%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs