Florida-based aircraft lessor Azorra has signed an order with Embraer covering 20 new E190-E2/E195-E2-family aircraft and secured purchase rights on another 30. Valued at $3.9 billion at list prices, the deal allows for delivery of either model of aircraft and calls for deliveries to start next year, adding a further 20 Embraer aircraft to the 21 already in Azorra’s existing and committed portfolio.
Calling itself a “relationship-driven commercial aircraft leasing company,” Azorra only two weeks ago signed a purchase agreement with Airbus for 20 A220-300s and two ACJ TwoTwenty business jets.
Last November, Azorra entered into a sale-leaseback transaction with Toronto-based Porter Airlines covering five new E195-E2s, with deliveries to the airline expected to begin this summer. That transaction included financing of manufacturer pre-delivery payments with long-term operating leases of Embraer’s largest E2 jet.
Azorra CEO John Evans, the founder of Fort Lauderdale, Florida-based business aircraft management and charter company Jetscape, sold his interest in that company in 2016 and now concentrates on leasing regional jets, “crossover” models such as the E190/195 and Airbus A220, and Boeing and Airbus narrowbodies.
“Our team has a long and productive history with Embraer,” said Evans. “At Jetscape, we were the first independent lessor to commit to Embraer’s E-Jet program, in December 2007, which saw E-Jets establish a global customer base of more than 80 operators. Azorra’s first new aircraft was a Phenom 300 acquired from Embraer in December 2016. We are excited about this new chapter in our long-standing partnership with Embraer.”