Republic Airways buys 47 passenger jets from Brazil planemaker Embraer

Brazilian planemaker Embraer says it has signed a contract with Republic Airways Holdings Inc. for the sale of 47 E-175 passenger jets for an estimated US$2 billion.

Embraer says in a Thursday statement that the agreement includes options for an additional 47 aircraft, which would bring the total value of the deal to approximately US$4 billion.

The statement says deliveries of the 76-seat aircraft are expected to begin in mid-2013.

It says the new aircraft will be operated by the Indianapolis, Indiana-based company under the American Eagle brand in American Airlines' regional network and that the deal is subject to court approval expected in the first quarter of 2013.

Empresa Brasileira de Aeronautica SA, is one of the world's largest plane makers.