OVERLAND PARK, Kan., Oct 18, 2006 (BUSINESS WIRE) -- Brazilian aircraft manufacturer Embraer today signed a program
agreement with the aviation branch of U.S. Bank Equipment Finance and
U.S. Bank Multi Service Aviation at the National Business Aviation
Association (NBAA) Annual Meeting & Convention in Orlando, Fla. The
agreement includes customized financing through U.S. Bank Equipment
Finance for Embraer's U.S. business jet customers along with a Multi
Service Aviation Affinity Card. The agreement covers the Embraer
Phenom 100 very light and the Phenom 300 light jets, the super
mid-size Legacy 600 and the ultra-large executive jet Lineage 1000.
Under the new program agreement, U.S. Bank Equipment Finance will
employ its expertise and long-term experience to provide custom
financing solutions to Embraer's business jet customers. "We're proud
to align with a global aircraft leader such as Embraer," said Jamie
Gioia, executive vice president and general manager of the vendor
finance group of U.S. Bank Equipment Finance. "For corporate aircraft
customers, combining the acquisition costs with a card program
establishes a higher degree of transparency to monitor and manage
their total aviation expenses."
The Multi Service Aviation Legacy Affinity Card will be initially
offered to eligible Embraer Legacy 600 business jet customers. As the
Phenom 100, Phenom 300 and Lineage 1000 enter into service (mid-2008,
mid-2009 and mid-2008, respectively) the program will also be
presented to their new owners. All of the affinity card programs will
be implemented and supported by Multi Service Aviation. The Legacy
Affinity Card has the same worldwide terms of acceptance as the Multi
Service Aviation Card and allows the user to earn loyalty reward
points when used for aviation-related purchases such as fuel,
maintenance, hangar charges, catering, landing fees and more. To
further streamline accounting practices, aircraft payments financed
through U.S. Bank can also be billed on the affinity card.
According to Robert Abele, executive vice president of U.S. Bank
Corporate Payment Systems and Multi Service Aviation, "The Legacy
Affinity Card enhances brand recognition and provides customers with
an aviation card that offers global acceptance along with detailed
transaction data critical to managing today's business operations."
According to Paulo Cesar de Souza e Silva, Embraer senior vice
president, Sales Financing, "Embraer is pleased to work with U.S.
Bank, as it will bring financial solutions with innovative and
flexible financing alternatives to accommodate our customers' needs."
"This agreement solidifies our commitment to providing customers
with diverse financing and aviation payment options," said Luis Carlos
Affonso, executive vice president, Executive Jets for Embraer. "We are
excited to work with U.S. Bank Equipment Finance and Multi Service
Aviation in this endeavor. The Legacy Affinity Card and its rewards
program is something we feel our clients will truly benefit from and
will help them streamline their accounting processes, leading to
improved business practices."
About the Agreement Parties
Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE:ERJ;
Bovespa:EMBR3) is the world's leading manufacturer of Commercial jets
up to 110 seats with 37 years of experience in designing, developing,
manufacturing, selling and providing after sales support to aircraft
for the Commercial Aviation, Executive Aviation, and Defense and
Government segments. With headquarters in Sao Jose dos Campos, State
of Sao Paulo, the Company has offices and customer service bases in
the United States, France, Portugal, China and Singapore. Embraer is
among Brazil's leading exporting companies. As of September 30, 2006,
Embraer had a total workforce of 18,336 people, and its firm order
backlog totaled US$13.3 billion.
In May 2005, Embraer announced the expansion of its executive jets
offering, which began with the Legacy 600 in 2001, now totaling 80
deliveries in 18 countries and representing a 13.5% market share of
the super midsize category. The Phenom 100 and Phenom 300 jets were
introduced targeting the very light and light jet segments. Embraer
unveiled the Phenom mock-ups at the National Business Aviation
Association (NBAA) convention, held in Orlando, Florida, in November
2005, where they will be exhibited again in this year's edition of the
In May 2006, Embraer introduced the Lineage 1000, an ultra-large
business jet based on the Embraer 190 commercial jet platform. Embraer
unveiled plans for the Lineage 1000 at the European Business Aviation
Convention & Exhibition (EBACE), held in Geneva, Switzerland.
U.S. Bancorp (NYSE:USB) is the parent company of U.S. Bank
Equipment Finance and Multi Service Aviation, which is a part of U.S.
Bank Corporate Payment Systems. With assets of $217 billion, is the
6th largest financial holding company in the United States. The
company operates 2,462 banking offices and 4,943 ATMs and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
U.S. Bank Equipment Finance is one of the largest bank-affiliated
equipment finance companies in the nation. U.S. Bank Equipment Finance
has been providing quality equipment finance solutions for 35 years
and is a major funding source for companies in virtually every
industry sector nationwide. Visit U.S. Bank Equipment Finance on the
web at www.usbank.com/leasing.
For over 25 years, Multi Service Aviation has served the aviation
industry with financial integrity, security, and unsurpassed customer
service. The Multi Service Aviation Card is accepted worldwide by more
than 7,000 aviation service providers in over 190 countries. Multi
Service Aviation provides cardholders with customized billing, free
online account maintenance, and savings on fuel, while giving
merchants account flexibility, free business promotion, competitive
card processing, and fast transaction authorization and settlement.
Multi Service Aviation promises that whatever you fly, wherever you
go, the Multi Service Aviation Card is the only card you need. To
learn more about U.S. Bank Multi Service Aviation, visit
SOURCE: U.S. Bank Multi Service Aviation
U.S. Bank Media Relations
Teri Charest, 612-303-0732
Multi Service Aviation
Jill Heisterkamp, 913-344-6532