In the wake of the failed deal with Boeing, Embraer boss Francisco Gomes Neto said at the end of April that his group had not yet received any cancellation due to the corona crisis. Now, however, he has to cope with a big postponement.
Azul Linhas Aéreas and the aircraft manufacturer agreed to postpone the delivery of 59 new generation E2 jets until 2024 or later. Actually, the Brazilian airline wanted to accept the jets between 2020 and 2023. The aircraft have a combined value of around 3.86 billion euros according to the list prizes.
Since a considerable part of the payment for an aircraft is made upon delivery, Azul is currently saving money by postponing the delivery, which it urgently needs in the Corona crisis. For Embraer, these revenues are moving into the future. Azul already has five Embraer E195-E2 from the E2 family in its fleet. In addition, there are six older E-190s and 47 E-195s.
