Final hours! Save up to 55% OFF InvestingProCLAIM SALE

Brazil airline Azul to delay delivery of 59 Embraer planes to after 2024

Published 05/13/2020, 05:47 PM
Updated 05/13/2020, 05:50 PM
© Reuters. Workers wearing face masks are seen next to a banner of Brazilian airline Azul, after the airline stated that it will cut all of its international flights out of its main hub due to the coronavirus outbreak, at Viracopos International Airport, in Campinas
EMBR3
-
AZUL
-

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.

© Reuters. Workers wearing face masks are seen next to a banner of Brazilian airline Azul, after the airline stated that it will cut all of its international flights out of its main hub due to the coronavirus outbreak, at Viracopos International Airport, in Campinas

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.