The order for twenty E2s from lessor Azorra is welcome news for Embraer in multiple ways. Not only is it the first order since Porter Airlines signed up for thirty E195-E2s last July, but it also increases the exposure of the type with lessors. Almost half of all Embraer E2s are now ordered by lessors.
US-based Azorra announced the firm order plus purchase rights for another thirty aircraft on January 24. The lessor has the flexibility to select the E190-E2 or the bigger E195-E2, depending on the market requirements. At list prices, the order is valued at $3.9 billion. Deliveries will begin in 2023 and grow Azorra’s Embraer fleet to 41, including E175s and E190s. Azorra recently completed a sale and leaseback for five E195-E2 that Porter Airlines will take from the second half of this year, so it is familiar with the type.
The order is Azorra’s second this month: on January 10, it announced an order for twenty Airbus A220-300s plus two ACJ TwoTwenty business jets.
AerCap launch lessor customer of the E2
The firm order for thirty aircraft brings total sales of the E2 to 235. Of these, 105 have been placed by lessors. In 2013, AerCap was the launch lessor customer with an order for fifty E190-E2s and E195-E2. Last November, it had taken delivery of seventeen of them, of which five E190-E2s have been placed with Air Astana and some E195-E2s with Azul. Three E195-E2s were placed with Belavia, the national airline of Belarus. Following political pressures, they were returned to AerCap.
Chinese lessor ICBC ordered ten E195-E2 in 2014. At the 2015 Paris Airshow, lessor Aircastle ordered fifteen E190-E2s and ten E195-E2 with purchase rights on another 25. It placed eleven of the bigger version with KLM, which also has leased the E195-E2 from ICBC.
All other E2s in service with launch operator Wideroe, Binter, Air Peace, Helvetic, and Air Kiribati have been directly purchased by the airlines.
Azorra CEO John Evans says that “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.”
