Air Montenegro signs agreement to participate in Pool Program: Third "Embraer E195" in the fleet

The national airline Air Montenegro has added a third Embraer E195 aircraft to its fleet and has signed a multi-year agreement to participate in the so-called Pool Program with Embraer (NYSE: ERJ; B3: EMB3), which includes both the new aircraft and two existing E195 aircraft that are part of the Montenegrin national airline's fleet.

Currently, Embraer's Pool Program supports more than 60 airlines around the world that fly on aircraft from the Brazilian manufacturer's range.

The third E195 in the Air Montenegro fleet, which the national airline took on a three-year dry lease, i.e. lease without crew, maintenance and insurance, will land at Podgorica Airport on Friday.

After being inspected by experts from the Civil Aviation Agency of Montenegro, this aircraft should be entered into the national civil aircraft register of Montenegro, under the registration mark 4O-AOE.

"Although our cooperation with Embraer is long-standing and successful, we believe that its peak is yet to come. The further development of Air Montenegro and the modernization of our fleet will open up new opportunities for deepening the partnership and achieving common goals in the areas of safety, innovation and excellence in service provision," said Tihomir Dragaš, President of the Board of Directors of Air Montenegro, today at a press conference organized by Embraer at one of the largest aviation fairs in the world, the Paris Air Show at Le Bourget Airport in Paris.

"With the valuable support and close cooperation with Embraer, we are proud to have introduced another aircraft to the Air Montenegro fleet. This milestone reflects not only our strong partnership with the manufacturer, but also our shared commitment to improving safety and operational standards for the benefit of our passengers and crew. I take this opportunity to express my sincere gratitude to Embraer for their continued support and commitment throughout our long-standing partnership," said Vukadin Stojanović, CEO of Air Montenegro.

"Air Montenegro has shown strong growth over the past year, and we are pleased to be part of that momentum, providing additional capacity and world-class service. Our goal is to keep E-Jets ready to fly and to continue to strengthen our successful partnership in the years to come," said Carlos Naufel, President and CEO of Embraer Services & Support.

Embraer is a global aerospace company headquartered in Brazil and a leading manufacturer of commercial jet aircraft with a capacity of up to 150 seats. Since its founding in 1969, Embraer has delivered more than 9.000 aircraft worldwide.

On average, every ten seconds an Embraer aircraft takes off somewhere in the world, carrying more than 150 million passengers annually.

Embraer has a fruitful cooperation with the Montenegrin national airline, as the former Montenegroairlines was one of the first airlines in this part of Europe to introduce E-Jets series aircraft into its fleet in 2008.

So far, the fleet of Montenegroairlines, or Air Montenegro, excluding the leased aircraft that will arrive in Podgorica on Friday, has flown a total of three E195 aircraft and one E-190. Embraer once singled out the Montenegrin national airline's use of its E-Jets series as representative in terms of good maintenance and the associated exceptionally high level of regularity of these aircraft.

Due to many years of excellent business relations and cooperation, Embraer, as "Vijesti" unofficially learned, has already offered the management of Air Montenegro a very attractive and relatively favorable offer for the renewal and expansion of its fleet, which would imply that, with the consent of the Government of Montenegro as the owner of the national airline, the existing E195 aircraft of Air Montenegro would be replaced in the coming period with five completely new, modernized and improved second-generation aircraft, i.e. the E195-E2 models.