Jetrader - July/August 2009 - 18

appraisal Embraer 190 Rick Young Director, Valuations ACI Aviation Consulting 540-428-4388 ryoung@aciaviation.com Background Introduced concurrently with the Embraer 170 at the Paris Airshow in 1999, the ﬁrst ﬂight of the E-190 was in March 2004 with the ﬁrst delivery made to U.S. carrier JetBlue in September 2005. A clean-sheet design, the E-190 features a “double-bubble” fuselage cross section, providing a wider cabin at shoulder level—addressing common complaints of cramped conditions in regional aircraft. The LR (Longer Range) variant increases MTOW by approximately 5,500 lbs. The AR (Advanced-Range) variant, introduced in 2005, increases both MTOW, MZFW and maximum landing weight. The E-190 is the basis for the Lineage 1000 corporate jet. 94 ft. 3 in (28.72m) 118 ft 11 in (36.24m) 84 ft 6 in (25.76 in) 6 ft 7 in (2.0m) 9 ft 0 in (2.74m) 98 in Single Class / 94 in Dual Class (8F/86Y) Standard: 105,358 lbs (47,490 kg) LR variant: 110,892 lbs (50,300 kg) AR variant: 114,199 lbs (51,000 kg) Standard and LR: 94,798 lbs (43,000 kg) AR variant: 97,003 lbs (44,000 kg) 28,596 lbs (12,971 kg) 2,400 nm (4,448km) 2 x General Electric CF34-10E, Dual FADEC, 20,000 lbs thrust Options 459 Stored 2 Basic Specs Wingspan Length Cabin Length Cabin Height Cabin Width Typical Passenger Layouts Maximum Takeoff Weight: Maximum Landing Weight Maximum Fuel Capacity Range (AR variant, 98 pax, long-range cruise speed) Powerplants In Service Firm Orders Current Fleet and Backlog as of March 31, 2009 218 218 Average age: 1.6 Years Current and Future Market Outlook The E-190 continues to be the most popular of the E-Jet series, appealing to both regional feeders and national carriers operating mainline routes. At 100 seats, it competes with older designs such as the Boeing 717 and Fokker 100, as well as the upcoming Bombardier CRJ-1000 and Sukhoi Superjet 100-95. Unlike its smaller sibling, the E-170, the market for the E-190 is unlikely to be affected by changes in pilot scope. With a solid backlog and only four aircraft available for lease, the E-190 enjoys a decent level of value stability, even through the current economic recession, although ﬁnancing remains a concern. Much depends on the fortunes of the largest operators of the type including: Air Canada, US Airways Express and JetBlue who, in 2008, arranged the sale of four Embraer 190’s scheduled for delivery in 2009 and reduced their options to 83 units. YOB CMV 2009 BV 30.9 28.6 27.1 25.5 23.8 22.3 2010 29.6 27.5 26.0 24.4 22.8 21.4 2011 28.4 26.3 24.9 23.4 21.8 20.5 2012 27.2 25.2 23.9 22.3 20.8 19.5 2013 25.9 24.0 22.7 21.2 19.7 18.5 2014 24.6 22.8 21.6 20.1 18.8 17.6 2015 23.4 21.7 20.6 19.0 17.7 16.7 2016 22.1 20.5 19.4 18.0 16.8 15.7 2017 20.9 19.4 18.4 17.0 15.8 14.9 2018 19.8 18.3 17.3 15.9 14.8 13.9 Current and Future Values as of April 2009 2009 2008 2007 2006 2005 2004 30.9 28.6 27.1 25.5 23.8 22.3 Inﬂation Rate: 2.5% The aircraft values stated herein are the product and property or independent third-party sources, and ISTAT neither approves nor endorses the information contained herein or the use thereof for any purpose whatsoever. Information current as of 5/15/09. 18 The ofﬁcial publication of the International Society of Transport Aircraft Trading
Jetrader - July/August 2009

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