This Day On The Street
Continue to site
ADVERTISEMENT
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

SkyWest Inc. Orders 100 New E-Jets E2 From Embraer As A Launch Customer

PARIS, June 17, 2013 /PRNewswire/ -- Embraer S.A. (NYSE: ERJ; BM & FBOVESPA: EMBR3) and SkyWest Inc. (SkyWest) signed a firm order for 100 E175-E2 aircraft, with another 100 Purchase Rights, bringing the total potential of the order to 200 aircraft. The announcement was made today at a press conference at the 50 th International Paris Air Show. If all the orders are exercised, the contract has an estimated value, at list price, of USD 9.36 billion.

This new contract is in addition to SkyWest's previous order in May 2013 for up to 200 current generation E175 aircraft, and therefore the potential order of E-Jets at SkyWest may reach 400 aircraft.

"After concluding an agreement for up to two hundred orders for our current-generation E-Jets from SkyWest just last month, I'm more than glad that the company has made this decision to be the launch customer for the E175-E2," said Paulo Cesar Silva, President and CEO, Embraer Commercial Aviation. "To have the world's largest regional airline placing this E-Jets E2 order shows SkyWest's confidence in Embraer and its products. Our companies have a long history together and with this new contract, that partnership is going to continue well into the future." 

As the first operator to order the E175-E2, SkyWest becomes the launch customer for that aircraft, one of three E-Jets E2 models. SkyWest, of St. George, Utah, USA, is the largest regional airline group in the world.  It is the parent company of SkyWest Airlines and ExpressJet Airlines, both of which have been long time operators of Embraer aircraft.  More than 40 EMB 120 Brasilia turboprops continue to fly in the SkyWest Airlines network, primarily in the western states. ExpressJet Airlines operates 249 aircraft from the ERJ 145 family and has the largest ERJ fleet in the world.

"The selection of the current E175 and the new E175-E2 is another phase of our fleet renewal strategy that will allow SkyWest to offer the best operating economics for its partners and the most comfortable experience for their passengers," said Jerry Atkin, Chairman and CEO of SkyWest. "We've worked with Embraer for many years and our good experience with the EMBs and ERJs promises to continue with our new fleet of E-Jets."

The E-Jets E2 represent Embraer's commitment to continuously invest in the company's line of commercial jets and maintain its leadership in the 70 to 130 seats market. The three new airplanes (E175-E2, E190-E2, E195-E2) carry the designator "E2" which signifies generational changes in technology that have been incorporated in the design. Each of the three aircraft has the versatility for a range of single class, multi-class or high-density seat capacities to suit operator requirements with new 'look and feel' and improved comfort levels.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs