Brazil airline Azul to delay delivery of 59 Embraer planes to after 2024
Reuters
Published May 13, 2020 05:47PM ET
SAO PAULO (Reuters) - Brazilian airline Azul SA (N:AZUL) said on Wednesday it had agreed with planemaker Embraer SA (SA:EMBR3) to delay the delivery of 59 E2 jets, with a list price of 24.5 billion reais ($4.16 billion), to 2024 or later.
The planes had been initially set for delivery from 2020 to 2023, according to an Azul securities filing.
Azul said the agreement was a step to shore up its business amid the COVID-19 pandemic, which also led it to reduce its April capacity by 90% in comparison to the same month in 2019.
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Written By: Reuters
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