Embraer Receives Orders For E195-E2 & E175 Jets

Embraer SA ERJ has received a firm order for 20 E195-E2 passenger jets from Porter Airlines, adding to the existing 30 firm orders.
The deal with a list price value of $1.56 billion brings Porter's orders with Embraer to 100 E195-E2 aircraft, with 50 firm commitments and 50 purchase rights.
In 2021, Porter had ordered 30 Embraer E195-E2 jets, with purchase rights for a further 50 aircraft worth $5.82 billion at list price, with all options exercised.
Porter Airlines will be the North American launch customer for Embraer's E2 jets. Porter's first delivery and entry into service are scheduled starting in 2H22.
Separately, Alaska Air Group, Inc. ALK ordered eight new additional E175 jets and options for 13 more as the airline intends to grow its regional fleet.
The E175 aircraft will fly exclusively for Alaska Airlines under a Capacity Purchase Agreement (CPA) with Horizon Air. The value of the contract, including options, is $1.12 billion based on the list price.
Horizon's new 76-seat aircraft from this order will be delivered over the next four years, starting in Q2 2023.
Price Action: ERJ shares are trading higher by 7.82% at $8.91 and ALK higher by 2.02% at $42.37 on the last check Tuesday.