Azul and Embraer sign firm order for up to 50 E-Jets E2

Embraer and Azul Linhas Aereas Brasileiras S.A. have reached a final agreement for 30 firm orders for the E195-E2 jets. The contract, announced as a Letter of Intent (LOI) during the 2014 edition of the Farnborough International Airshow, in July last year, also includes an additional 20 purchase rights for the same model, bringing the total potential order up to 50 E195-E2 jets. The contract for the E-Jets E2 has an estimated value of USD 3.2 billion, at Embraer’s current list prices, if all purchase rights are converted to firm orders. The firm orders will be included in Embraer’s 2015 second-quarter backlog. The first delivery is scheduled for the second quarter of 2020.