International Lease Finance (ILFC) says it favoured the Embraer E-Jet E2 family over the Bombardier CSeries mainly because of a "lack of order visibility" in the programme.
The operating lessor is the launch customer of the E-190 E2 model through a 100-aircraft letter of commitment, which also includes the larger E-195 E2 variant.
ILFC's president Henri Courpon says the transaction marks the first time the lessor commits to Embraer's product offerings.
"One of the key metrics through this deal is Embraer's customer base. As a leasing company we will have access to more than 60 aircraft customers," he says.
"We spent time analysing the CSeries but the problem is a lack of customer orders," adds Courpon.
ILFC says it took an opportunity to "move early" in the E-Jet E2 programme to position itself as a lessor with early slots. "We did the same thing with the Airbus A320neo Family at the Paris air show in 2011."
"Early slots will give us a competitive advantage over the other lessors."
Embraer launched the E-Jet E2 programme on the back of a total of 365 orders and options.