Embraer Makes First E-Jets Sale to Montenegro Airlines
The Eastern European airline already operates an EMBRAER 195 under a leasing contract
(Sao Jose dos Campos, September 16, 2008) -- Embraer announced the sale of the first EMBRAER 195 jet to Montenegro Airlines, today. The agreement with the airline from the Republic of Montenegro also includes purchase rights for two more aircraft of the same model. The value of the deal, at list price, is US$ 39.5 million, and could total US$ 118.5 million, if all of the purchase rights are exercised.
The EMBRAER 195 for Montenegro Airlines will comfortably seat 116 passengers in a singleclass layout and delivery is expected in 2009. The company plans to use the new airplane for key markets on the European continent, including routes to cities like London and Moscow.
"Montenegro Airlines is joining a select group of airlines, worldwide, that have chosen to operate EMBRAER 190 or EMBRAER 195 jets, including, among others, US Airways, Air Canada, Holland's KLM, Germany's Lufthansa, Britain's Flybe, France's Regional (Air France Group), and Finland's Finnair," stated Mauro Kern, Embraer Executive Vice President, Airline Market. "We are honored by Montenegro Airlines' decision, and happy to offer its passengers the most modern and comfortable experience on the market."
Last June, Embraer delivered the first EMBRAER 195 to Montenegro Airlines through a leasing operation carried out by GE Commercial Aviation Services (GECAS). This leasing contract includes another aircraft of the same model for delivery next year that will increase the airline's fleet to three EMBRAER 195s by mid-2009.
"We are very satisfied with the performance of the EMBRAER 195 and, for that reason, we decided to invest in expanding our fleet with this aircraft," said Zoran euriSić, President of Montenegro Airlines. "Embraer's E-Jets family has enjoyed great success with important airlines in Europe, the United States, and Asia, and our decision will allow us to offer the appropriate comfort and capacity for the markets of interest to our customers."
Andrija Lompar, the Minister of Transport, Maritime Affairs and Telecommunications of the Republic of Montenegro, stated: "The decision to purchase an aircraft is a highly committing business project, which, from the strategic point of view, creates new development perspectives for Montenegro and its citizens. The country acquired its tourism identity and set its strategy as a high-end European destination, therefore it is our commitment to provide a quality link of the country to Europe. Next year, with three new Embraer E-Jets in the fleet of this national airline, it will continue the expected passenger growth trend, entering new markets and introducing more destinations, thus making a quality contribution to economic development."
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