Embraer & Flexjet Sign Purchase Deal Worth up to $7 Billion for Phenom and Praetor Executive Jets
The order includes firm orders from Flexjet for 182 aircraft and options for another 30.
(São Paulo, Brazil) Embraer Executive Jets, a division of Embraer S.A. (NYSE: ERJ) announced today a purchase agreement with private jet leader Flexjet for 182 aircraft and options for another 30 – the order includes Embraer’s Praetor 600, Praetor 500 and Phenom 300 models, as well as an enhanced services and support agreement.
Photo of Flexjet, Inc. Co-CEO Michael Silvestro and Embraer Executive Jets CEO Michael Amalfitano courtesy of Embraer.
The order will nearly double the size of Flexjet’s fleet in the next five years, and represents the largest-ever firm order for both companies.
Per today’s press release from Embraer, the partnership between Embraer and Flexjet dates back to 2003, when Flight Options, which merged with Flexjet in 2015, became the first fractional ownership program to introduce the Legacy executive jet. This partnership has grown significantly over the years and continues today with a growing presence of Praetor 600’s, Praetor 500’s and Phenom 300/E series aircraft in Flexjet’s global fleet.
Photo of an Embraer Praetor 500 in flight courtesy of Flexjet.
“Now in our 30th year at Flexjet, it seems fitting to extend our rewarding and long-term relationship with Embraer with this historic and groundbreaking firm order. In fact, since 2003, we have accepted delivery of more than 150 Embraer aircraft,” said Michael Silvestro, CEO of Flexjet. “Both the Praetor 500 and 600 are high performers in the Flexjet fleet. In fact, the Praetor 600 was so well accepted in Europe, we opted to include it in our North American fleet in 2023, extending our Embraer fleet across two continents. And as the first fractional provider of the Praetor 500, our maintenance technicians and our pilots are intimately familiar with the aircraft and are looking forward to the continued growth of this fleet.”
Embraer shares are trading up 8.31% at $43.16 pre-market at the time of publication of this article.
**Not investment advice; The FLY Report is not a registered investment advisor.
