Embraer signed a firm order with Globalia, owned by Juan JosÃ© Hidalgo, President of JJH Capital and Air Europa, for an additional six EMBRAER 195 jets, to be operated by Air Europa, a subsidiary of Globalia. The deal is valued at US$ 237 million, at list price, based on January 2008 economic conditions, and converts the purchase rights originally announced in February 2008. This transaction is already included in Embraerâ€™s third quarter firm order backlog as â€œundisclosedâ€.
The new EMBRAER 195 will be flown by Air Europa on short and medium routes in Spain, the Balearic and Canary Islands, and Europe. Delivery of the first aircraft confirming a purchase right, should take place by mid-2010. Air Europa will be the first operator in the world to fly the EMBRAER 195 in a single-class, 122-seat layout.
One aircraft from the original order of six has been sold by Globalia to an undisclosed customer, resulting in a fleet of 11 EMBRAER 195 jets when all deliveries are completed.