Latest news with #Phenom300E
Yahoo
05-02-2025
- Business
- Yahoo
Embraer inks record Flexjet order, boosting shares
SAO PAULO (Reuters) -Brazilian planemaker Embraer has signed a deal to supply Flexjet with up to 212 jets, it said on Wednesday, a contract valued at up to $7 billion at current list prices. The agreement represents the largest firm order ever for Embraer's executive aircraft, with firm orders for 182 aircraft and options for another 30, the group said in a statement. The order from Flexjet, which allows clients to buy a part-share in aircraft, comes as a major boost for the Brazilian company, which had already been riding tailwinds on strong demand for its commercial and military aircraft. Shares of the planemaker, which more than doubled in value in 2024, were up more than 9.5% in early Sao Paulo trading after the deal was announced, making it the top gainer on Brazil's benchmark stock index Bovespa. The deal comprises a fleet of Praetor 600, Praetor 500 and Phenom 300E jets along with related services and support. "This is the largest order placed by Flexjet in its 30-year history and is also the largest firm order for Embraer's executive aircraft," the Brazilian company said. Embraer in 2023 signed a deal with NetJets for up to 250 Praetor 500 jets, but those were options that the Berkshire Hathaway-owned firm started to convert into firm orders last year, in a positive sign for the business jet segment. The planemaker did not disclose when the Flexjet orders will be added to its backlog, or when deliveries are set to begin. Analysts at JPMorgan expect the deal to increase Embraer's total backlog by about 26% to around $28.7 billion, forecasting deliveries over the next five years as Flexjet plans to double its fleet in the period. "We view today's announcement as very positive," they said in a note to clients.
Trade Arabia
05-02-2025
- Business
- Trade Arabia
Flexjet orders 212 Embraer jets in $7bn deal
Flexjet, a private jet provider, has placed an order for 182 aircraft from Embraer Executive Jets, with an additional 30 aircraft as potential future options. The deal also includes an agreement for services and support and is described as the largest firm order in the history of both companies. The agreement is valued at up to $7 billion (at current list prices). Flexjet is expanding its geographic customer base and this order offers the opportunity for Flexjet to base aircraft in the Middle East as an extension of its European operations. This order comes at a good time in light of the recent reports from Saudi Arabia that state its Civil Aviation Authority will allow foreign operators to operate domestic flights from May this year, Flexjet said. The deal commitment comprises a fleet of Embraer business jets, which includes the Praetor 600, Praetor 500 and Phenom 300E models. This order will nearly double the size of Flexjet's fleet in the next five years. Not only is this the largest order Flexjet has placed in its 30-year history, but it is the largest order to date for Embraer Executive Jets. Flexjet reaffirms its longstanding commitment as Embraer's Praetor fleet launch customer and now introduces the enhanced Phenom 300E model to its growing global portfolio, said a statement. 'We are delighted with Flexjet's renewed commitment to Embraer through this comprehensive purchase agreement, which strengthens even further our strategic partnership of over 20 years,' said Michael Amalfitano, President & CEO, Embraer Executive Jets. 'We are very excited to have many more loyal Flexjet fractional owners enjoy access to our industry-leading Phenom and best-in-class Praetor jets.' 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 longstanding 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. '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.' Flexjet has been the launch customer for three mainstay Embraer products – the Legacy Executive in 2003, the Phenom 300 in 2010, the Legacy 450 in 2016 and the Praetor 500 / 600 in 2019. In fact, Flexjet has helped usher in key milestones with Embraer via the 100th milestone Phenom 300 delivery in 2012 and the 1,000th Embraer executive jet, a Legacy 500, in 2016. These aircraft have each broken barriers in their respective classes with the Phenom 300 seeing its 12th consecutive year as the most delivered light business jet in the world, according to numbers released by GAMA (General Aviation Manufacturing Association). The Legacy 450 and Legacy 500 were both the first fly-by-wire aircraft for the Flexjet fleet, offering performance capabilities of larger aircraft with midsized economics, the statement added. Flexjet, a global leader in private aviation, first entered the fractional jet ownership market in 1995 and is about to celebrate its 30th anniversary. Flexjet offers fractional jet ownership and leasing. Red Label by Flexjet, a market differentiator, features an ultra-modern fleet, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are nearly 50 different interior designs across its fleet, which includes the Embraer Phenom 300, Praetor 500 and 600, Bombardier Challenger 350/3500 and the Gulfstream G450 and G650. - TradeArabia News Service
