BWIA ORDERS 10 PLANES FROM EMBRAER OF BRAZIL

BWIA ORDERS 10 PLANES FROM EMBRAER OF BRAZIL

A Trinidadian airline that is managed by U.S. investors will spend about $180 million to buy new aircraft from a Brazilian manufacturer.

BWIA International Airways said it has placed an order for 10 commuter jets manufactured by Embraer of Brazil.The airline said it expects to take delivery of the 50-seat EMB-145 planes next year.

The purchase will be financed by loans from banks in the Caribbean, the United States and Brazil, the airline said.

It also has obtained favorable credit financing from the Brazilian government.

BWIA did not say how much the aircraft will cost. However, the planes, which will be available in about 18 months, will be sold for between $14 million and $18 million each, according to Embraer.

The Trinidad and Tobago government sold a majority stake in BWIA this year to a consortium controlled by U.S. investor Edward Acker.

The Brazilian commuter aircraft will be more cost-effective than turbo-prop planes for trips over 200 miles, BWIA said.

They will be used on routes between the airline's base in Port of Spain and Barbados, Venezuela, Guyana, Antigua, Grenada and Jamaica.

The acquisition of the aircraft will allow BWIA to redeploy some of its existing aircraft on international routes, the company said.