AerCap places five Embraer E-Jets E2 with Borajet

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Istanbul, Turkey, October 6, 2016Embraer and AerCap Holdings N.V. (“AerCap”) (NYSE: AER) announced today the placement of the first E-Jets E2 by a lessor. AerCap is placing three E190-E2s and two E195-E2s with Turkish carrier, Borajet. These aircraft, on long term lease from AerCap’s order book with Embraer, will start delivering in 2018. The announcement was made at the Istanbul Airshow.

“This agreement opens a new chapter in the relationship between AerCap, Borajet and Embraer. The E2 is the fleet smart solution that maximizes profitability and return on investment for airlines and lessors, while maintaining the leadership in passenger comfort achieved by the current E-Jets generation. For Borajet, the cockpit communality between the E-Jets generations, which requires less than three days of transition, minimizes training costs, reduces complexity, and provides greater operational flexibility in aircrew utilization,” said Arjan Meijer, Vice President, Europe & Middle East, Embraer Commercial Aviation.

AerCap is the launch lessor customer of Embraer’s second generation of the E-Jets family with a total of 50 Embraer E190-E2s and E195-E2s on order.

AerCap President and Chief Commercial Officer Philip Scruggs said, “We are pleased to confirm our lease of five E-Jet family aircraft to Borajet and especially pleased to be the launch lessor customer of the aircraft type. The E-Jet family aircraft offer greater capacity and operational efficiency which will support Borajet’s growing network. We look forward to continuing to work with the Borajet team as the airline optimizes its fleet.”

Fatih Akol, Chairman of Borajet Airlines said, “We are the fastest growing regional airline in Europe. We are adding to our fleet because of this success which is based on our strategy and the operation of current generation Embraer Jets. Borajet’s future plans include the addition of further next generation Embraer aircraft to our fleet. Our target investment is USD 1.5 billion. The first step of our investment is the induction of the five E-Jets E2 jets announced today. Our investment is a proof of our commitment to, and confidence in, the Turkish airline industry. With Special thanks to our passengers who have supported us and demanded this growth, we will continue to give our guests the ‘private aircraft comfort’ and quality of service they have learned to expect from Borajet.”

The E-Jets E2s program has received 272 firm orders plus 398 options, purchase rights and Letters of Intent (LoIs) – a total of 670 commitments for the new aircraft range. Currently, three E190-E2 prototypes are involved in the flight test campaign. The fourth aircraft, featuring the full interior, will join the certification campaign in the coming months. The first E190-E2 is planned to be delivered in the first half of 2018.

 

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About AerCap
AerCap is the global leader in aircraft leasing with, as of June 30, 2016, 1,637 owned, managed or on order aircraft in its portfolio. AerCap has one of the most attractive order books in the industry. AerCap serves approximately 200 customers in approximately 80 countries with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and has its headquarters in Dublin with offices in Amsterdam, Los Angeles, Shannon, Fort Lauderdale, Miami, Singapore, Shanghai, Abu Dhabi, Seattle and Toulouse.

 

About Borajet Airlines

Borajet Airlines, the first and only regional airlines in Turkey, began operations in 2010.  Since then the airline has extended rapidly and now has a fleet of Embraer 190 and 195, flying to more than 80 domestic and international destinations.

The airline flies to destinations rarely serviced by Turkey’s main domestic operators as well as to the main hubs.  Borajet operates regional jets that give the airline access to airports that other carriers cannot or choose not to fly to. The lower costs associated with narrow body aircraft enables Borajet Airlines to fly to cities with a relatively small passenger pool.

Borajet Airlines is the only regionally–focused airline in Turkey, offering high quality on board services for both comfort and business class passengers. Attentive service of experienced staff, selective treats, comfort of the cabin, transforms every Borajet flight to a pleasant and prestigious journey with “private aircraft” comfort.

Borajet Airlines proves to be the “high quality airlines” of Turkey with its each flight, daily increasing number of passenger satisfaction.

 

About Embraer

Embraer is a global company headquartered in Brazil with businesses in commercial and executive aviation, defense & security. The company designs, develops, manufactures and markets aircraft and systems, providing customer support and services.

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. About every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Embraer is the leading manufacturer of commercial jets up to 130 seats. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.

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