HispanicBusiness

SAO JOSE DOS CAMPOS, Brazil, Nov. 12 /PRNewswire/ -- Embraer and Spain's Globalia Group have signed a contract for 11 executive jets. The new order, unveiled today at the 2007 Dubai Air Show, November 11-15, includes eight Phenom 100s, two Phenom 300s, and one Legacy 600. The total value of the agreement, at list price, is US$ 62.31 million.

"Spain is a very interesting market with new business models coming out, which may eventually transform the way we see executive aviation," said Luis Carlos Affonso, Embraer Executive Vice President, Executive Jets. "We are especially happy to have been selected by Pepe Jets and look forward to seeing the Phenom 100, Phenom 300 and Legacy 600 aircraft supporting Globalia's newest venture success."

The aircraft will be operated by Pepe Jets, Globalia's newest subsidiary, one of the largest tourism groups in Spain. Globalia also owns Air Europa, Spain's second largest airline. Pepe Jets will receive its Legacy 600 in April 2008. The Phenom 100 deliveries are scheduled to begin in October 2010, and the first Phenom 300 will be available in April 2011. The aircraft are for charter and on-demand operations.

"The new airline we are launching is a response to the growing call for on-demand charter flights from businessmen and entrepreneurs who want both flexibility and comfort," said Juan Jose Hidalgo, Globalia Executive President. "What we've been looking for during the evaluation process for our fleet are aircraft offering the reliability of an airliner, as well as the comfort of a real business jet. And this is exactly what we have selected with the Phenoms and the Legacy 600."

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 Embraer's businesses. Those estimates are subject to risks, uncertainties and suppositions that include, among others: general economic, political and trade conditions in Brazil and in those markets where Embraer 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. Embraer 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 Embraer expectations. Empresa Brasileira de Aeronautica S.A.

Web site: http://www.embraer.com.br/