China's HNA Group Tianjin Airlines Purchases 20 E-Jets and 20 E-Jets E2

During Chinese President Xi Jinping’s State visit to Brazil, in a signing ceremony witnessed by the Presidents of both nations, Embraer S.A. concluded an agreement for the sale of 40 aircraft to China’s Tianjin Airlines, a subsidiary of the HNA Group. The contract, with an estimated value of USD 2.1 billion at list prices, is comprised of 20 E-Jets and 20 E-Jets E2, which also makes HNA Group Tianjin Airlines the first Chinese airline to order the E-Jets E2 model.

The first current generation E-Jet will be delivered in 2015, and the first E-Jet E2 is scheduled for delivery in 2018. This order will be incorporated in Embraer’s backlog as soon as Embraer receives the initial payment from the customer.

“The deal truly marks a significant milestone in our longstanding partnership with the HNA Group and Tianjin Airlines, the operator of the largest fleet of E-Jets in Asia. This new order reinforces the airline's success with Embraer E-Jets. The remarkable achievements of the airline and its contribution to regional aviation in China are a showcase for Embraer aircraft,” said Paulo Cesar Silva, President & CEO, Embraer Commercial Aviation. “We are proud that we are working together to open new markets and build an air transport network for the benefit of the country.”

“Embraer E190s have been the cornerstone of our regional expansion strategy over the past few years and have allowed us to achieve our development objectives. We see these additional orders as a continuation of both our short-term and long-term growth plans,” said Liu Lu, Executive Chairman & President of Tianjin Airlines. “The twenty new E-Jets E2s will bring us even greater efficiency and flexibility in adding frequencies and expanding markets.”

Source: Embraer
Date: Jul 17, 2014