Embraer announces the confirmation of a second batch of ten Embraer 190 by China's CDB Leasing
A LOI was also signed by CDB Leasing to purchase a third group of ten EMBRAER 190 . São José dos Campos, April 12, 2011 – Embraer announced that a tripartite signing ceremony was held earlier today in Beijing, P.R. China among Embraer, CDB Leasing Co., Ltd. (CLC) and China Southern Airlines Co., Ltd. CLC confirmed the purchase of a second batch of ten EMBRAER 190 as a follow-on order to an agreement concluded earlier this year when a first group of ten EMBRAER 190 was ordered. In addition, a LOI was also signed during the ceremony for a third group of ten EMBRAER 190s, which, if confirmed, will bring the total CLC order to 30 aircraft, which translates into a list price amount of US$ 1.25 billion.
All thirty EMBRAER 190 ordered by CLC will be operated by China Southern Airlines, the country’s largest airline, and the third airline in the world. China Southern Airlines will start receiving the EMBRAER 190 during the second half of this year.
“We are delighted to receive such incremental orders from CLC and China Southern Airlines. It’s an additional endorsement to our aircraft that will soon total 100 in China,” said Paulo César de Souza e Silva, Embraer Executive Vice President, Airline Market. “The continuous growth of the Chinese regional aviation market has opened up opportunities for airlines expanding their services in complete agreement with the central government policy. We are proud that the EMBRAER 190 has been recognized as an ideal tool to perform such role.”
“CLC is excited to reach an agreement with Embraer on another ten EMBRAER190s, following the original deal signed in January 2011, as well as the signing now of a LOI for an additional group of ten E-Jets. These orders further consolidate CLC’s cooperation and relationship with Embraer and China Southern,” said Wang Chong, CLC Chairman.
“We enjoy the sound cooperation with Embraer and have full confidence in its products. The EMBRAER 190 is a successful aircraft, well received by the worldwide market, with proven economics and performance. The new jets will be operated in Xinjiang to boost the regional economic development. The deal strengthens the partnership between China Southern and Embraer,” said Xu Jiebo, Vice President of China Southern Airlines.
About CDB Leasing Co., Ltd.
CDB Leasing Co., Ltd. (CLC) is a major non-banking financial institution controlled by the China Development Bank. It has registered capital of US$ 1.22 billion, and has approximately US$ 9.16 billion in total assets. The company owns the largest leasing fleet in China and, so far, it has delivered 78 aircraft to airlines.
About China Southern Airlines Co., Ltd.
China Southern Airlines Co., Ltd., one of the top three state-owned airlines in China, has 14 branches and five holding subsidiaries, as well as 53 international offices located in major metropolitan markets around the world. It operates the largest and most technologically advanced fleet, as well as the most extensive domestic network in China. Currently, the company operates 400 modern aircraft, including Embraer’s ERJ 145. In 1997, China Southern debuted on both the New York and Hong Kong Stock Exchanges, and in 2003 it was listed in Shanghai. In November 2007, China Southern officially joined the SkyTeam alliance, becoming the first domestic airline in the country with a global airline alliance. At the present time, the company operates six ERJ 145s.
Source: Embraer
