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

Air Lituanica Selects Embraer E-Jets









PARIS, June, 18, 2013 /PRNewswire/ -- A new commercial airline in Europe, Air Lituanica of Vilnius, Lithuania, has acquired two Embraer E-Jets. The carrier will launch scheduled service on June 30 th with one EMBRAER 170 leased from a third party. In July, Air Lituanica will add another E-Jet, an EMBRAER 175, leased from ECC Leasing Company, Ltd., a wholly-owned subsidiary of Embraer (NYSE: ERJ; BM&FBOVESPA: EMBR3) .

The E170 and E175 are configured with 76 and 86 seats in single class, respectively. Air Lituanica will deploy the aircraft on its planned routes between Vilnius and Brussels, Amsterdam, Berlin, Prague, Munich and Moscow. The airline intends to add three to four more aircraft to increase frequencies with the objective of serving a dozen European routes from Vilnius in three years.

"Embraer E-Jets have proven to offer an effective combination of capacity, frequency and reliability that new carriers need to successfully launch their services," said John Slattery, Chief Commercial Officer, Embraer Commercial Aviation. "The sizes of the airplanes are ideal for the types of markets in which the airline will fly. Embraer welcome's Air Lituanica to our growing portfolio of E-Jets operators in Northern Europe."

"Air Lituanica is aiming to improve nonstop air travel links between Vilnius and points in Western Europe, Scandinavia, Russia and the CIS. The arrival of our first E-Jets is a very important milestone for the company," said Mr. Erikas Zubrus, CEO of Air Lituanica. "The aircraft will allow us to serve business routes with high frequency and offer our passengers an outstanding level of comfort."

As with all E-Jets, the E170 and E175 benefit from common crew qualification and 100% parts commonality so operators can realize exceptional maintenance and crew resource cost savings. The different E-Jet capacities give Air Lituanica the flexibility to assign the aircraft based on variations in market demand.

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 17,931.80 -138.60 -0.77%
S&P 500 2,092.90 -21.59 -1.02%
NASDAQ 4,948.8990 -68.03 -1.36%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs