Embraer Bags Order From SkyWest For 16 E175 Jets Valued At $798M

Embraer SA ERJ has received an order for 16 new E175 jets from SkyWest, Inc. SKYW for operation in the Delta Air Lines DAL network. The contract value is $798.4 million, based on the list price.
SkyWest already operates 71 E175 jets for Delta. The E175 aircraft will fly exclusively with Delta under a Capacity Purchase Agreement (CPA).
The 76-seat aircraft will be delivered in Delta's livery and will have a three-class configuration. Deliveries start in mid-2022.
Embraer will include the contract in its Q3 backlog.
Price Action: ERJ shares are trading higher by 3.74% at $14.96, SKYW traded lower by 0.32% at $40.03, and DAL higher by 0.28% at $39.40 during the premarket session last check Tuesday.