Embraer today announced that Air Canada has signed a $ 1.35 billion purchase agreement for 45 Embraer 190 aircraft.
The purchase agreement, which is contingent upon Air Canada’s emergence from the Companies’ Creditor Arrangement Act (CCAA), also contains options for up to 45 additional aircraft.
Deliveries of the aircraft, configured for dual class seating, are scheduled to begin in November 2005.
Today’s announcement confirms the commercial proposal signed by Air Canada in December 2003 and allows Embraer to add 45 new firm orders and 45 options to its orderbook. The firm order is valued at $1.35 billion, at list price, with a potential value of more than $2.7 billion if all options are exercised.
“The introduction of new generation small jet aircraft to our fleet is a key component of Air Canada’s restructuring business plan to implement high frequency, low-cost services on new and existing routes in Canada and the United States,” commented Robert Milton, Air Canada President and CEO.