Brazilian aircraft maker Embraer (ERJ +9.7%) pops after announcing earlier that its inked a...

|About: Embraer S.A. (ERJ)|By:, SA News Editor

Brazilian aircraft maker Embraer (ERJ +9.7%) pops after announcing earlier that its inked a contract with Republic Airways (RJET +2.7%) for as many as 94 of its ERJ175 planes to fly regional routes for American Airlines. RJET plans to buy 47 of the planes initially, and holds the option to buy another 47. If the option is exercised, the deal could mean as much as $4B to ERJ's coffers. Service expected to start in June of 2013.