Exhibit 99.1
news release EMBRAER
www.embraer.com
EMBRAER TO REVISE DELIVERIES TO EXPRESSJET
Total ExpressJet Firm Order Remains Unchanged
Sao Jose dos Campos, February 12, 2003 - Embraer (NYSE: ERJ)
announced today that ExpressJet Airlines (NYSE: XJT), due to the
economic uncertainties and the adverse market conditions faced by
airlines, has requested a revision of the deliveries of Embraer
regional jets originally scheduled to take place during the years
2003-2005. As a result, a revision in the original delivery
schedule has been agreed upon, subject to the execution of
satisfactory definitive agreements and the approval of the Board
of Directors of Continental.
The reprogramming of deliveries to ExpressJet of ERJ 145 XR
aircraft redistributes the same number of aircraft originally
agreed upon, thus establishing a new schedule for the years 2003,
2004, 2005 and 2006. According to the new schedule, Embraer will
deliver to ExpressJet 36 aircraft instead of 48 in 2003 and 21
aircraft instead of 36 in 2004. In 2005, the revision will
increase the amount of deliveries to 21 instead of two, with the
remaining eight units to be delivered in 2006. The schedule
change would become effective in the third quarter of this year.
Embraer does not anticipate any resulting impact on its
operational efficiency, since the revised delivery schedule will
be effective in the second half of 2003. With this new scenario,
Embraer is now revising its total deliveries forecasted for the
years 2003 and 2004, which change respectively to 136 and 140
aircraft. Embraer will continue to review the risks and
perspectives for the aviation market and to pursue new business
opportunities in the United States, Europe, Asia and Latin
America.
Note to editors
Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE: ERJ;
Bovespa: EMBR3 and EMBR4) is one of the world's leading aerospace
companies. With headquarters in Sao Jose dos Campos, state of Sao
Paulo, and offices and customer service bases in Australia,
China, France, Singapore and the United States, the Company as of
December 31, 2002 had a total workforce of 12,227 people. Embraer
was Brazil's largest exporter from 1999 to 2001, and second
largest in 2002. As of December 31, 2002, Embraer's firm order
backlog totaled US$ 9.0 billion and the total backlog, including
options, equaled US$ 22.2 billion.
Embraer has 33 years of experience in designing, developing,
manufacturing, selling and providing after sales support to
aircraft aimed at the global airline, corporate and (more
recently) defense markets.
This document may contain projections, statements and estimates
regarding circumstances or events yet to take place. Those
projections and estimates are based largely on current
expectations, forecasts on future events and financial tendencies
that affect the Company's businesses. Those estimates are subject
to risks, uncertainties and suppositions that include, among
other: general economic, politic and trade conditions in Brazil
and in those markets where the Company does business;
expectations on industry trends; the Company's investment plans;
its capacity to develop and deliver products on the dates
previously agreed upon, and existing and future governmental
regulations.
The words "believe", "may", "is able", "will be able", "intend",
"continue", "anticipate", "expect" and other similar terms are
supposed to identify potentialities. The Company does not feel
compelled to publish updates nor to revise any estimates due to
new information, future events or any other facts. In view of the
inherent risks and uncertainties, such estimates, events and
circumstances may not take place. The actual results can
therefore differ substantially from those previously published as
Company expectations.
press offices Headquarters North America Europe, Middle East and Africa
Rosana Dias: Doug Oliver: Stephane Guilbaud:
rosana.dias@embraer.com.br doliver@embraer.com sguilbaud@embraer.fr
Cell: +55 12 9724-4929 Phone: +1 954 359 3414 Phone: +33 (0) 1 49 38 44 55
Cell: +1 954 232 9560 Cell: +33 (0) 6 75 22 85 19
Marcelo Onaga: Fax: +1 954 359 4755 Fax: +33 (0) 1 49 38 44 56
marcelo.onaga@embraer.com.br
Cell: +55 12 9721-1560 Andrea Bottcher: Valerie Carlier:
abottcher@embraer.com vcarlier@embraer.fr
Phone: +55 12 3927 1311 Phone: +1 954 359 3432 Phone: +33 (0) 1 49 38 45 09
Fax: +55 12 3927 2411 Cell: +1 954 439 1830