Embraer (ERJ) Wins $249M Colorful Guizhou Airlines Deal
Zacks Investment Research | Sep 04, 2016 09:56PM ET
Brazil-based Embraer S.A. (NYSE:ERJ) has won a contract from Colorful Guizhou Airlines for up to five E190s, comprising two firm orders and three purchase rights. The expected value of the contract is $249 million at the current list price, if all purchase rights are exercised.
The two firm orders will be included in Embraer’s third-quarter 2016 backlog and are scheduled for delivery in 2017.
Past Orders
Embraer had received orders from Colorful Guizhou Airlines for seven E190s at the 51st International Paris Air Show in Jun 2015. Of these, four have already been delivered.
It goes without saying that the high quality of the E190s already delivered to Colorful Guizhou Airlines spurred the second order for the same aircraft.
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