Brazil's Porter Airlines Places Order For Embraer's E195-E2 Passenger Jets Worth $2.1B

Brazil-based Porter Airlines has exercised purchase rights to place a firm order for 25 Embraer SA ERJ E195-E2 passenger jets. The deal, valued at $2.1 billion at list price, will be added to the Q4 backlog.

The latest order brings Porter's orders with Embraer to 75, with 25 purchase rights remaining.

Porter will use the new aircraft to extend its service to destinations throughout North America.

Also Read: American Airlines Inks Firm Order With Embraer For Four New E175s

"At Porter, we entered a new era when we began operating the E195-E2 earlier this year," said Michael Deluce, President and CEO of Porter Airlines.

"The jet is exceeding our expectations, especially in terms of fuel burn, and delivering an incredible level of customer satisfaction to our passengers with a quiet, comfortable ride."

Porter, the North American launch customer for Embraer's E195-E2, has already taken delivery of 24 E195-E2s.

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft.

Price Action: ERJ shares closed higher by 0.98% at $16.46 on Wednesday.