Azul Brazilian Airlines postpones delivery of 59 Embraer E2 jets

Azul Brazilian Airlines Embraer 195 E2

Azul Brazilian Airlines has reached an agreement with Embraer to postpone 59 Embraer E2’s deliveries, expected to take place between 2020 and 2023, to 2024 and beyond. The Brazilian airline said that it is adapting its business to the coronavirus pandemic.

The airline was forced to cut its capacity by 90% in April (compared to 2019), has made jobs redundant and has offered lower wages to its staff.

Azul entered this crisis as one of the most profitable airlines in the world. The impact of the pandemic on the Brazilian and global economy has been unprecedented, and the timing of the recovery still remains uncertain. With the contribution of all of our stakeholders, we believe we will be able to come out of this crisis as an even stronger company. The agreement reached with Embraer to defer aircraft deliveries to 2024 is one important
component of our comprehensive plan that allows us to create the liquidity runway for this crisis. With this support, we are able to ensure that we have the liquidity and the resources required to optimize the airline for the future,” said John Rodgerson, Azul’s CEO.

The airline continues to work with its partners on its fleet optimization plan and will keep the market informed of further developments.