Embraer signs pact with Egyptian lessor CIAF, Air Peace for new aircraft orders
airo-based CIAF Leasing has signed a firm order for three E190 aircraft at Dubai Airshow.
November 18, 2019: Cairo-based CIAF Leasing has signed a firm order for three E190 aircraft. As of current list prices, the deal is worth $161.4 million and will be added to Embraer’s fourth-quarter backlog. Furthermore, NiAir Peace has decided to order three additional E195-E2s, confirming purchase rights from the original contract, signed in April this year. The orders were signed at the Dubai Air Show.
The three new aircraft will join CIAF’s existing fleet of three E170s, two of which are on lease with Tunisian startup Jasmin Airways, and another one with Air Cairo, a low-cost airline in Egypt. CIAF is also due to receive two E195s in mid-November.
Hassan Mohamed, chairman and CEO of CIAF Leasing said, “The three new E190s will be an excellent addition to our growing fleet of Embraer E-Jets. With a fleet of E170s, E190s, and E195s, CIAF will have the flexibility to offer to both our wet and dry lease customers a service that fits their needs exactly.”
Raul Villaron, vice president sales, Africa and Middle East, Embraer Commercial Aviation noted, “CIAF is rapidly increasing its footprint in both wet and dry leasing with the addition of further aircraft to their fleet and the establishment of their own AOC (air operator certificate) in June this year. It’s a pleasure to work with an organisation that’s going from strength to strength by exploiting the benefits a family of aircraft can provide.”
All three aircraft will be delivered in the fourth quarter of 2020, in a new livery showing off CIAF’s new visual identity.
CIAF was launched on June 16, 2009, at the Paris Air Show. It is a joint venture that has been established between various Egyptian state-owned shareholders and Aviation Capital Group Corp (ACG).
Air Peace's new E195-E2s have a value of $212.6 million, based on current list prices. Set to be the first E-Jets E2 operator in Africa, Air Peace’s firm order, announced this year, is now for 13 E195-E2s with 17 purchase rights. The first delivery is scheduled for the second quarter of 2020.