First Two Embraer 170 delivered to USAIRWAYS

[Dav8tor]

Release Source: Empresa Brasileira de Aeronautica S.A.


Embraer Delivers Two Embraer 170 Jets to US Airways
Monday March 8, 9:59 am ET
Deliveries Are the First of 85 for U.S. Launch Customer


SAO JOSE DOS CAMPOS, Brazil, March 8 /PRNewswire-FirstCall/ -- Embraer (NYSE: ERJ - News) announced today that U.S. launch customer US Airways has taken delivery of its first two EMBRAER 170 airliners. The company ordered 85 EMBRAER 170 jets and took options on an additional 50 in May 2003. US Airways plans to put the airplanes into service in early April.
ADVERTISEMENT


The EMBRAER 170 was awarded type certification from Brazilian, U.S. and European authorities last February, paving the way for deliveries to start in key markets of the world.

US Airways is the nation's seventh largest airline, serving nearly 200 destinations in the U.S., Canada, Europe, the Caribbean and Latin America. US Airways, US Airways Shuttle and the US Airways Express partner carriers operate over 3,200 flights per day.

The EMBRAER 170 is the first of a four-member family of commercial jets specifically designed for the untapped 70- to 110-seat market, providing passengers with unparalleled cabin comfort and baggage space, and carriers with excellent operating economics, performance and reliability.

Embraer Image Gallery

Now you can download images of Embraer products in different resolutions, accessing directly the Embraer Image Gallery at http://www.embraer.com.

Embraer (Empresa Brasileira de Aeronautica S.A.) (NYSE: ERJ - News; Bovespa: EMBR3 and EMBR4) is a major aerospace company with 34 years of experience in designing, developing, manufacturing, selling and providing after sales support to aircraft for the global airline, defense and corporate markets. With headquarters in Sao Jose dos Campos, state of Sao Paulo, the Company has offices and customer service bases in Australia, China, France, Singapore and the United States. Embraer is among Brazil's leading exporting companies. As of December 31, 2003 Embraer had a total workforce of 12,941 people, and its firm order backlog totaled US$ 10.6 billion.

This document may contain projections, statements and estimates regarding circumstances or events yet to take place. Those projections and estimates are based largely on current expectations, forecasts on future events and financial tendencies that affect the Company's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among other: general economic, political and trade conditions in Brazil and in those markets where the Company does business; expectations on industry trends; the Company's investment plans; its capacity to develop and deliver products on the dates previously agreed upon, and existing and future governmental regulations. The words "believe," "may," "is able," "will be able," "intend," "continue," "anticipate," "expect" and other similar terms are supposed to identify potentialities. The Company does not feel compelled to publish updates nor to revise any estimates due to new information, future events or any other facts. In view of the inherent risks and uncertainties, such estimates, events and circumstances may not take place. The actual results can therefore differ substantially from those previously published as Company expectations.




--------------------------------------------------------------------------------
Source: Empresa Brasileira

 

[DLslug]

I wonder what paint job they will have? Is it like a city bus where you can just peal off the livery for the next airline?

 

[merikeyegro]

When are they going to post their 10-K for 2003? I'd like to see their positions on the balance sheet right now. I can't imagine they're in good shape. Last I knew, they had $900M in current liabilities and about $1.6B in cash. Sound about right? That's not pretty.

Anyway, it'll be interesting, but I agree about the peel-off decals. They may need them.

 

[~~~^~~~]

Mikey :

The difference is that $900,000,000.00 of that money is in the form of loan guarantees made by you and me, the good 'ol taxpayer.

~~~^~~~

 

[FurloughedAgain]

Exactly right. Loan guarantees.

That means that you, the taxpayer, hasn't paid one red cent to US Airways as of yet.

You basically are like Daddy cosigning a loan for your little boy.

The banks loaned them the money and they offered up quite a bit of collateral in the form of slots in LGA and DCA (including lucritive shuttle slots) etc.

The government doesn't pay out the loan unless US Airways' defaults and, according to Bronner, they have no intention of doing that.

Lets give the remaining 30,000 employees at US Airways the benefit of the doubt, stand behind them, and hope that they can make it through their difficult restructuring and emerge a major airline once again.

After all, 30,000 employees -- some of whom have worked for the company for 30 years -- deserve a chance.

 

[kn65]

AMEN TO THAT !!!!!