Embraer Receives Firm Order for 13 Legacy 650 Jets

Embraer signed a firm order for 13 Legacy 650 executive jets with China's Minsheng Financial Leasing Co., Ltd., in a ceremony held, today, at the 64th Annual NBAA Meeting & Convention, in Las Vegas, Nevada, in the United States. The first aircraft is expected to be delivered by the end of this year, with the remainder to be delivered within the next five years. In July 2011, the two parties signed a Memorandum of Understanding for the purchase of up to 20 aircraft, from entry level to ultra-large executive jets. "It is inspiring and encouraging to have this firm order for 13 Legacy 650s from Minsheng, marking a significant advancement, not only in terms of partnership between the two parties, but also in terms of Embraer's business development in China. The deal demonstrates strong confidence in our Legacy 650 by Chinese industrial players and reaffirms Embraer's belief in this strong and promising market," said Ernest Edwards, President, Embraer Executive Jets. "The order for 13 Legacy 650s enhances our strategic cooperation with Embraer, as one of the major initiatives for our company: to be the top executive aviation leasing institution in Asia. We hold full confidence in the prospects for Embraer's Legacy 650 in the Chinese executive aviation market, which will surely attain increasing recognition from our customers here in China," said Kong Linshan, Chairman of Minsheng Financial Leasing Co., Ltd. The Legacy 650, which entered service in late 2010, is a new addition to Embraer's executive jets family. With a range of 3,900 nautical miles (7,223 kilometers), it can fly with four passengers, under NBAA IFR conditions, nonstop from Beijing (China) to Dubai (United Arab Emirates), from Hong Kong (China) to Adelaide (Australia), or from Dubai to London (UK). The aircraft features the highly integrated Honeywell Primus Elite(tm) avionics suite, which greatly reduces pilot workload and enhances flight safety. The Legacy 650 offers three comfortable cabin zones that allow up to 14 passengers to work or rest in a spacious area. A fully equipped wet galley and the largest in-flight accessible baggage compartment in its class are other value-added highlights. Cabin noise levels are reduced significantly with a state-of-the-art sound insulation package. The Legacy 650 performs as an ideal business partner with Wi-Fi technology that makes it easier to transfer large files, stream videos, and make and receive calls via VoIP.

Source: Embraer - Empresa Brasileira de Aeronautica S.A. (NYSE: ERJ)
Date: Oct 11, 2011