Embraer And Alaska Air Ink $2.6 Billion Deal

According to a report by The Wall Street Journal, Alaska Air Group, Inc. ALK reportedly will order 30 regional jets made by Embraer SA (ADR) ERJ with an option to purchase 30 more. The Wall Street Journal, citing "two people familiar with the planned deal," reported that Alaska Air will order 30 E175 aircraft. Alaska Air's management said in a recent conference call that it was in the "final phase" of evaluating all options available before buying 30 large regional jets. The company's executives added that they expect deliveries to begin in 2017. Shares of Alaska Air surged higher on Tuesday morning and were trading at $65.40, up nearly 4 percent on the day. Shares of Embraer were trading higher by 0.21 percent at $28.63.