Aircraft lessor Azorra orders 20 Embraer E2 aircraft

Florida-based aircraft leasing company Azorra has reached an agreement with Embraer to acquire 20 new E2 family aircraft, plus a further 30 purchase rights. The flexible deal enables Azorra to acquire E190-E2 or E195-E2 aircraft. At list prices, the order is valued at $3.9 billion. Deliveries will begin in 2023, adding a further 20 Embraer aircraft to the 21 already in Azorra's existing and committed portfolio. Azorra specializes in leasing executive, regional, crossover, and small narrowbody aircraft. The new E2s are in response to the company’s requirement for a new generation of environmentally sustainable airplanes with low operating costs, low emissions, and low fuel burn.

"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," said John Evans, Azorra's CEO. "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."

Arjan Meijer, CEO of Embraer Commercial Aviation, said, "We thank Azorra again for their selection of the E2, after recently completing a sale leaseback transaction with Porter Airlines, the first E-Jet E2 operator in North America, 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."