India’s Air Costa signed an agreement to buy 50 Embraer Jets

Vijayawada-based airline, Air Costa signed an agreement with Brazilian aircraft manufacturer Embraer to buy 50 E-Jets E2 aircraft worth $2.94 billion.

• The acquisition of aircrafts is a mix of 25 E190-E2s and 25 E195-E2s with an additional purchase rights for 50 aircrafts to bring the total potential order to up to 100 aircraft and can reach $5.88 billion if all are exercised.
• Air Costa will be the first customer of the E-Jet E2 in the Indian market when it takes the first delivery in 2018. The E195-E2 is scheduled to enter service in 2019.

Note: Embraer S.A. is the world’s largest manufacturer of commercial jets up to 130 seats and is one of Brazil’s leading exporters.

Month: Current Affairs - February, 2014