20-Feb-08
Fort Lauderdale, Florida, February 20, 2008: U.S. based leasing company Jetscape, Inc. has signed an order for up to thirty (30) EMBRAER 190LR jets, equipped with General Electric’s CF34-10E5 engines. With this order Jetscape becomes only the second leasing company to commit to Embraer’s ‘E-Jet’ family and the first that is not also an industrial risk-sharing partner of the manufacturer.
Jetscape has committed to ten (10) firm aircraft, options for ten (10) aircraft and purchase rights for an additional ten (10) aircraft. The value of the ten firm aircraft order is $375 million at today’s list prices. If Jetscape exercises all of its options and purchase rights, the value of the order would increase to $1.125 billion. The first firm aircraft delivery is scheduled in July 2009.
Jetscape’s contract provides the company with flexibility to meet the needs of its airline customers, including the ability to up-grade from LR to AR variants, and to convert between any of Embraer’s E170/175 and E190/195 models with appropriate advance notice to the manufacturer. In addition to its purchase of new E-Jets directly from Embraer, Jetscape also intends to offer purchase and leaseback of E-Jets for airline operators that have placed their own direct orders and, for a variety of reasons, elect to finance their purchases through operating leases.
“With bigger lessors focused primarily on bigger aircraft, this order enables Jetscape to establish itself as a leader in serving the growing 70 – 120 passenger jet leasing market. Embraer’s E-Jets with General Electric’s CF34-10E series engines are among the most modern, fuel efficient and technologically advanced jets in passenger service today, and have rapidly gained appeal among both mainline and regional carriers around the world. In addition to offering the best operating economics in their class, with spacious interiors and no middle seats, E-Jets also provide exceptional passenger comfort, giving a competitive edge to our airline customers” said John Evans, Chairman and CEO of Jetscape. “We are convinced about the viability of the leasing market for E-Jets. It’s the right size, the right time and the right aircraft for Jetscape and our customers.”
Jetscape was founded in 2000 and engages in commercial aircraft leasing, management, remarketing and advisory services -- providing innovative, custom-tailored solutions to commercial aircraft owners and operators worldwide. Jetscape currently owns and manages 18 aircraft with 11 airline operators in 10 countries on 5 continents. Jetscape is also the exclusive remarketing agent for the sale of A320 aircraft on behalf of JetBlue Airways.
For more information contact John Evans, CEO, Jetscape +1-954-763-4737