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Embraer Bags Azul for $1.8 Billion Order

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Embraer Bags Azul for $1.8 Billion Order

Embraer Bags Azul for $1.8 Billion Order
July 15
11:53 2014

LONDON — Embraer received a firm commitment from Brazilian carrier Azul for 30 E195 E2s at the Farnborough Airshow on Tuesday. The deal is worth $1.8 billion, though after factoring in 20 purchase options, skyrockets to $3.1 billion.

The letter of intent sets up Azul to be the launch customer for its E195-E2, an updated version of the existing E195 jet that the carrier is already fond of. Thus it expects to begin operating the jet in 2019, when the first jet is delivered. The airplane is expected to be configured with 132 seats, 14 more than current generation of E-Jet, and powered by Pratt & Whitney’s popular geared turbofan engines.

Azul is planning to use the jets on domestic routes to replace what will then be an aging fleet of Embraer 190s and 95s.

Embraer launched its E-Jet program back in 2008. It has since gone on to accumulate 280 firm orders, including today. The program also announced several orders that had been previously counted in the order backlog but whose customer was not disclosed.

The order will also go far to helping close a one year gap between current generation E-Jet production and the beginning of the E2 program, expected in 2017.

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Jeremy Dwyer-Lindgren

Jeremy Dwyer-Lindgren

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