Capital Aircraft - Danish aircraft leasing company Nordic Aviation Capital (NAC) has signed Embraer (NYSE: ERJ ) as its first passenger-to-freight (P2F) E-Jets conversion customer.
Embraer announced the deal on Monday, two months after announcing its modified aircraft program. The E-Jet cargo program aims to fill the market gap between turbocharged aircraft and large narrow cargo.
Capital Aircraft
Under the agreement, Embraer will modify 10 passenger NAC E190 and E195s at the manufacturer's facility in San José dos Campos, Brazil.
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With relatively limited cargo capacity, e-commerce and the COVID-19 pandemic influenced Embraer's decision to add freighters to its passenger jets.
Embraer's E-Jet cargo is more than 50% larger and three times larger than a large freighter. According to Embraer, the E190F has a range of 2,300 nm and the E195F has a range of 2,100 nm. The company says the E-Jet carrier's operating costs are 30 percent lower than narrowband.
NAC has over 500 aircraft in its fleet, including 146 E190s and E195s. Other major aircraft include ATR 72s and de Havilland Dash 8s. NAC serves approximately 70 clients in nearly 50 countries in North America, Europe, Africa, the Middle East, Australia and Asia.
Tom was a senior editor at FLYING. Previously, his regular report was published in the Aviation Industry Journal. Tom also spent three years as a television and digital correspondent at CNN's Washington and Atlanta bureaus, eventually moving into aviation. He reported from air shows in Oshkosh, Farnburg and Paris. Follow Tom on Twitter @thompatterson. Dublin, 21 January 2019 - Aviation Capital today announced an agreement to purchase 65 aircraft from Airbus. The deal demonstrates the company's commitment to further growth and represents one of Aviation Capital's largest single deals with a European manufacturer. The order, which includes 50 A320neo and 15 A321neo aircraft, is worth more than $7.4 billion at today's list price.
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Today's announcement shows that the company is committed to its strategy of acquiring the latest, most fuel-efficient single-aisle aircraft to meet the unique requirements of ' airline and investment customers for long-term fleet growth and planning.
The order ensures that Air Capital is well positioned for the next ten years with the delivery of the A320neo and will increase the total number of aircraft owned, operated and committed by Air Capital to over 720. In total, the airline has ordered 277 A320 family aircraft directly from the airline.
Peter Barrett, chief executive of Aviation Capital, said: “We are delighted to have completed this transaction.
There has been strong demand for the latest technology aircraft from our current and new customers, hence our decision to place this order. In the current environment, airlines are looking for more fuel efficient aircraft. The shape of our order book positions us well to meet these needs in the future. "We have a strong relationship with Airbus and look forward to working with them to continue to deliver for our customers."
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Christian Scherer, Head of Commercial Sales, Airbus, said: “As one of the world's leading aircraft lessors, Air Capital's re-order demonstrates its financial strength to invest wisely in the A320neo family. In 2018, the direct rental market grew by more than 30%. Our 800 deliver worldwide - like Europe and America combined. "
The agreement comes in addition to an order for six A320neo aircraft placed at the end of March 2018, bringing the total number of aircraft ordered by Airbus to 71 in 2018. the A321 or the total number of Air Capital aircraft types to 30.
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