Brazil's Embraer to sell GE three 170 airplanes

Brazil's Embraer , the world's fourth largest maker of commercial aircraft, on Friday said a unit of General Electric will buy three of its 170-model jets.

The order is part of a deal between General Electric Capital Aviation Services (GECAS) and Hong Kong Express Airways Ltd, which will lease four planes from the U.S. company.

Embraer did not disclose the financial terms of the agreement but Hong Kong Express Airways said the deal represented an investment of over $100 million.

GECAS had already ordered one of the 170 jets included in the deal and will purchase an additional three planes from Embraer, or Empresa Brasileira de Aeronautica SA, a spokesman for the Brazilian company said.Delivery of the jets is expected to start in the second half of 2005.

The start-up airline will be Embraer's first customer in Asia to fly its Embraer 170 jet, an airplane specifically designed for the regional travel market. The Embraer 170 planes will be configured for 76 seats each.

(From Reuters, Dezembro 03, 2004)

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