AerCap places five Embraer E-Jets E2 with Borajet

Embraer 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.

Said Arjan Meijer, Vice President, Europe & Middle East, Embraer Commercial Aviation:

“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,”

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 generat?on 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 a?rl?ne industry. W?th Special thanks to our passengers who have supported us and demanded this growth, we will continue to give our guests the ‘private a?rcraft 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.

Istanbul, Turkey, October 6, 2016