From the RAH Q1 conference call:

Thanks for taking the follow-up. Just a quick your take on United doing a transaction with the 30 plus 40 options where they appear to lead here? We haven’t seen United do something like that in some time, I guess it was really the Continental guys, I think back in the days of Express Jet. Do you – any thoughts on maybe why they’re out there buying these airplanes and arguably using scarce resources on regional jets?

Bryan Bedford:

Yes, I have an opinion although, they’ll probably give you a more informed opinion on your views, but I think the reality is that the production levels on these larger capacity regional jets over the last three years have been ramping down both Bombardier and Embraer and there is more competition for those resources, then perhaps there is going to be supply.

I think United decided it was important for them at this point to place a strategic order to essentially reserve the deliver positions that remain available in 2014 and 2015. Essentially get ahead of others that are still in the negotiating process and I’m not sure we’re going to – I’m not sure that’s going to prove to be unusual. Now ultimately whether United physically takes those aircraft and finances them remains to be seen or whether they’re allocated as part of negotiated solution with a third party provider.

I don’t know that we know that outcome yet, but yes I think it was savy move on United's part to at least lockdown E-Jet deliveries.