Embraer just reported that Airways converted its firm order made in December 2019 for two E175s with purchase rights for two more, into a firm order for two -E2 jets, with purchase rights for a further two. The deal is valued at $256m at list prices.

Reflecting, perhaps, a sense among many managements that the impact has started to bottom out, Desire Bantu, CEO of Airways said: “Despite the current difficult circumstances, the fundamentals of our market have not changed; so we expect the momentum we’ve seen in the past to redevelop. I said in December that we may need to make an additional order for E2s due to the agility required to adapt to market changes – we have now reached that point.”

Given the highly stressed period, commercial aviation has been these past two months, announcing a revised order reflects, potentially, a return to better times.  This is a small deal, but under the circumstances, it carries a larger impact than might have even three months ago.

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