Azorra Places Order for 20 New Embraer E2 Family Aircraft, Plus Purchase Rights for 30 More
Fort Lauderdale, Florida-based aircraft lessor Azorra has placed an order for 20 Embraer E2 jets with 30 options. The order includes E190-E2s or E195-E2s in a deal valued at US $3.9 billion at list prices.
On Monday (January 24, 2022), Embraer announced that Fort Lauderdale, Florida-based aircraft lessor Azorra has signed an agreement for the purchase of 20 new Embraer E2 jets, plus an additional 30 purchase rights. The deal enables Azorra to acquire E190-E2 or E195-E2 aircraft and is valued at US $3.9 billion at list prices. Azorra specializes in leasing executive, regional and crossover aircraft. The new aircraft will be delivered from 2023, expanding the company’s existing and committed portfolio of 21 Embraer aircraft to 41.
In today’s announcement, Azorra’s Chief Executive Officer, John Evans, said,
“Our team has a long and productive history with Embraer. At Jetscape, we were the first independent lessor to commit to Embraer’s E-Jet program in December 2007, which saw E-Jets establish a global customer base of more than 80 operators. Azorra’s first new aircraft was a Phenom 300 acquired from Embraer in December 2016. We are excited about this new chapter in our longstanding partnership with Embraer. This commitment underscores our belief in the E2; a modern aircraft family with superior economics and environmental performance, providing Azorra with a compelling opportunity to build a position of leadership in the markets we serve.”
Also commenting on the sizeable E2 Order, Embraer Commercial Aviation’s CEO, Arjan Meijer, said,
“We thank Azorra again for their selection of the E2, after recently completing a sale leaseback transaction with Porter Airlines for five new E195-E2 aircraft. Azorra offers an exciting and innovative approach to the market, with a fierce focus on customer needs that align solidly with Embraer’s deserved reputation for outstanding customer care. With this order for 20 E2 aircraft, Azorra have further endorsed the exceptional value that the next-generation E2 family brings to the market as the most quiet and fuel-efficient aircraft in the segment.”
Azorra offers lease, financing and asset management solutions with a focus on executive, regional and mid-size ‘crossover’ aircraft. The company’s team is led by industry veterans with a shared history of success and has the financial backing of funds managed by Oaktree Capital Management L.P. In addition to their Fort Lauderdale headquarters, Azorra also has an office in Dublin, Ireland
Headquartered in Brazil, Embraer is a global aerospace company and the leading manufacturer of aircraft with 70-150 seats, with more than 100 customers worldwide. The company maintains industrial units, offices and service/parts distribution centers across the Americas, Africa, Asia and Europe. Embraer has logged over 1,900 orders for their E-Jets and the company has already delivered over 1,600 of the jets to 80 customers in 50 countries. Since the company’s founding in 1969, Embraer has delivered over 8,000 aircraft. Today, an Embraer aircraft takes off on average every ten seconds, carrying over 145 million passengers annually.
Source(s): Embraer, Azorra