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Money > PTI > Report July 23, 2002 | 1833 IST |
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Jet orders 10 'Embraer 175' aircraft worth $260 mnKeeping in view the rapid expansion of domestic aviation sector, India's private airline Jet Airways has struck a deal with Brazilian aircraft manufacturer Embraer for supply of 10 planes costing about $260 million. The airline has also kept options for additional 10 'Embraer 175' aircraft which, if converted, would take the total order size to a massive $520 million, a Jet Airways spokesperson said at the Farnborough airshow in England. He said a formal agreement would be signed within the next 10 days and the deliveries were expected to commence in the third quarter of 2004 and continue till 2007. Jet Airways chairman Naresh Goyal said the airline was optimistic about rapid growth in the Indian domestic aviation market, which has necessitated the purchase of these 70-80 seater aircraft. "For a long time, we have been very keen to induct the regional jet aircraft into our fleet and are pleased to have selected the 'Embraer 175'. It meets our requirements both from technical and economic perspective," he said. Embraer president and CEO Mauricio Botelho said Jet Airways' order marked the company's entry into the Asian market. "This new order is another indication that Embraer' has chosen the right path in the design of the new 'Embraer 170/190' commercial jet family," Botelho said.
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