Embraer press release:
FINNAIR PLACES ORDER FOR
Finnair Aircraft Finance Ltd and Embraer have today signed an agreement for an order of 12 EMBRAER 170 airliners. Finnair has also taken options on eight additional aircraft, which may be convertible to EMBRAER 175s or EMBRAER 190s. The value of the firm order at list price is US$ 306 million and the contract's potential value is US$ 510 million if all options are converted.
Configured to seat 76 passengers in a comfortable single class layout, the deliveries will begin in September 2005 and will continue through May 2007.
"It is an honor and privilege to welcome Finnair, one of the longest established operating airlines in the world, into our client base," said Frederico Fleury Curado, Embraer Executive Vice-President - Civil Aircraft. "Finnair enjoys a worldwide reputation for quality and sound airline management and it is a significant mark of confidence, for Embraer, to have been selected by this prestigious oneworld airline. We look forward to a long and fruitful relationship between Embraer and Finnair."
"We have renewed half of our fleet in five years. Our operational environment is changing and the most successful will be the one who reacts quickly to the new situation and is among the first to take advantage of it. We are continuing with our strategy by acquiring the best possible fleet for our feeder traffic," said Keijo Suila, Finnair President and CEO. "Shifting to a single aircraft type will bring significant savings in operating costs. At the same time fuel consumption will be cut by a third and air traffic charges will decrease. From the passenger's viewpoint, Embraer aircraft are comfortable and fast. Thus we can improve on our already high standard of service," Suila added.
Finnair celebrated its 80th anniversary in 2003 and remains young at heart. Embraer is proud to introduce its new EMBRAER 170, the first member of a new family of Embraer airliners, into its fleet.
The EMBRAER 170 aircraft will replace the MD
-80 fleet and ATR-72 turboprop aircraft which are being retired.
As of March 31, 2004, the EMBRAER 170/190 family had logged 258 firm orders and 342 options from Air Caraibes, Alitalia, Cirrus, GECAS, JetBlue Airways, LOT Polish Airlines, SWISS, U.S. Airways and Republic Airways. Currently, there are EMBRAER 170s in service in Europe and the U.S.
Note to Editors
Embraer (Empresa Brasileira de Aeronáutica S.A. - NYSE
: ERJ; Bovespa: EMBR3 and EMBR4) is a major aerospace company with 34 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the global airline, defense and corporate markets. With headquarters in São José dos Campos, state of São Paulo, the Company has offices and customer service bases in Australia, China, France, Singapore and the United States. Embraer is among Brazil's leading exporting companies. As of March 31, 2004 Embraer had a total workforce of 14,090 people, and its firm order backlog totaled US$ 10.9 billion.