Embraer And Azorra Seal Aircraft Deal With Royal Jordanian For $635M

Embraer SA ERJ and commercial aviation lessor Azorra have signed a new eight aircraft deal with Royal Jordanian Airlines (RJ), Jordan's flag carrier. The financial terms were not disclosed.
The agreement will see the introduction of both the E190-E2 and E195-E2 to the airline's fleet.
The agreement covers eight commercial aircraft, four E190-E2 and four E195-E2, with a list price value of $635 million. The deliveries are expected to begin in Q4 2023.
"RJ has been operating Embraer aircraft for 15 years, and the E2 reduces the investment cost of pilot training and spare parts provisioning significantly, whilst also lowering crew scheduling and maintenance costs," said Samer Majali, Vice Chairman and CEO of Royal Jordanian Airlines.
Price Action: ERJ shares are trading lower by 0.92% at $14.47 on the last check Thursday.