Benzinga | Nov 15, 2021 03:15PM EST

Embraer Secures Contract From Overland Airways For Up To Six E175s

* Embraer SA (NYSE:ERJ) received a firm order for three new E175, plus three purchase rights for the same aircraft model, with Overland Airways, from Nigeria.

* The 88-seat aircraft, with premium class cabin configuration, will be delivered from 2023. The deal is worth $299.4 million at list price, with all purchase rights being exercised.

* "We are seeing growing long-term demand for rightsized aircraft to deliver profitable domestic connections in Nigeria," noted Cesar Pereira, VP for Europe, Middle East and Africa, Embraer Commercial Aviation.

* Price Action: ERJ shares are trading higher by 3.61% at $16.79 on the last check Monday.