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India's Air Costa Acquires Three E-Jets

Stocks in this article: ERJ





PARIS, June 18, 2013 /PRNewswire/ -- Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3) announced today, during the 50 th International Paris Air Show ( www.paris-air-show.com), at Le Bourget, France, that Air Costa of Vijayawada, India, has acquired three E-Jets for launch of its scheduled regional airline service in India. Two EMBRAER 170s have been arranged from ECC Leasing, Embraer's wholly-owned subsidiary. The new carrier has also purchased one new EMBRAER 190 from Embraer. The firm order is already included in Embraer's backlog as an "undisclosed" customer.

"We are delighted that Air Costa has chosen the E-Jets for their operations. The aircraft are sure to promote greater regional connectivity in India," said John Slattery, Chief Commercial Officer (CCO), Embraer Commercial Aviation. "Embraer has always maintained that the regional aviation market in India has tremendous potential. Our E-Jets are the right sized aircraft for service between secondary and tertiary markets which are underserved and, in fact, growing faster than metro markets."

"Air Costa has chosen E-Jets for their efficiency and reliability. Our plan is to link underserved markets in India with more direct flights," said Captain Babu, CEO of Air Costa. "The E170 and E190 are ideal in size and range. We can add frequencies and routes without adding too much capacity, thus serving places with seasonal demand, as well as key secondary and tertiary business centers."

Air Costa will initially connect cities in southern India such as Bangalore, Chennai, Hyderabad and Vijayawada, as well as key secondary cities in the north and northwest of the country.

"Regional services have a lot of potential in India especially as the economy of South Indian cities is booming. We are committed to further growth in the Indian market with additions to our fleet and launching new routes over the medium term," said Ramesh Lingamaneni, Chairman and Managing Director of Air Costa. "We are very pleased with the support that Embraer has provided to date for the launch of our Air Costa and we look forward to a long successful and mutually rewarding relationship."

Since 2004, Embraer has delivered over 950 E-Jets. Currently, 65 airlines in 47 countries have chosen this versatile family of 70 to 130 seat aircraft. Embraer customers operate E-Jets in a variety of business models, including mainline, charter, low-cost and regional airline applications. In Asia Pacific, more than 200 Embraer commercial aircraft are now in service with over twenty operators.

Follow us on Twitter: @EmbraerSA

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