Latest news with #Praetor600
Forbes
31-03-2025
- Business
- Forbes
Flexjet Celebrates 30 Years With Big Moves And Sky-High Ambitions
In 2025, Flexjet celebrates 30 years as a private aviation leader For over 30 years, Flexjet has been soaring to new heights. Originally founded in 1995 as part of Bombardier Aerospace, the company has steadily evolved into a global leader in private aviation. Now owned by Directional Aviation, Flexjet is the second-largest operator of private jets worldwide. The company is known for its fractional ownership model, where "Owners" can enjoy the benefits of jet ownership without the hefty upfront cost. Instead, owners enter an Access Program, which allows them to purchase a share of a jet and pay a structured monthly fee. For about $1.6 million in equity and a monthly fee of around $24,000 for the Praetor aircraft, owners get 50 hours of flight time and the freedom to fly on their own terms. Flexjet also offers a Jet Card program, a debit-style option designed for those who typically fly 25 hours a year. One of the standout features of Flexjet is that it operates its own fleet, which continues to expand. With over 300 aircraft, including the long-range Gulfstream G650 and the Super-Midsize Praetor 600, Flexjet's fleet is constantly evolving. In February 2025, the company made headlines by signing a $7 billion deal with Embraer Executive Jets, securing an order for 182 aircraft with 30 more as potential options. By 2031, Flexjet's fleet is expected to double, with around 600 jets in operation, positioning it as a major player in the private aviation market. Flexjet currently operates over 300 private aircraft, including the Praetor 600 As Flexjet continues to grow, its presence is felt more and more across the globe, with over 4,300 employees worldwide. U.S. owners, in particular, are flying further than ever, especially to destinations like the Middle East and Europe. This surge in long-haul travel is thanks to the advanced capabilities of Flexjet's fleet, particularly the Gulfstream G650, which boasts an impressive range of 7,000 nautical miles. Another major perk for Flexjet owners is the company's interchange program, which allows seamless access to its European fleet. To support this growing demand, Flexjet is set to open its first dedicated private aviation terminal in Europe at Farnborough, slated for early 2026. This state-of-the-art terminal will feature private lounges for owners and their guests, as well as a Red Label Academy for specialized crew training. It will complement Flexjet's existing terminals in Dallas, Naples, Florida, Teterboro, New Jersey, Van Nuys, California, and White Plains, New York. All of this is supported by the company's new $50 million global headquarters in Cleveland, Ohio, which opened in September 2023. Flexjet's LXi Cabin Collection™ is designed to transport passengers well beyond their destination Flexjet is always looking for ways to enhance its offerings, and its recent upgrades are no exception. In December 2024, the company launched the LXi Cabin Collection, a curated selection of over 50 custom interior designs created by renowned designers and artists. And in January 2025, Flexjet introduced the FXLUXE Travel Guides, a series of exclusive, ultra-curated travel experiences. Created by Flexjet Chairman Kenn Ricci, these travel guides offer bespoke itineraries to some of the world's most coveted destinations, including the Galápagos Islands, Lake Como, and Marrakech. Ricci's vast network and Flexjet's global contacts in hospitality, culture, dining, shopping, and fashion ensure each owner's trip is unique and unforgettable. Flexjet's commitment to offering its owners exceptional experiences doesn't end with its aircraft. In fact, it's the only private jet operator to offer its own fleet of private helicopters, ensuring seamless travel between destinations. The company has also partnered with high-end luxury brands, such as The Emory, a five-star all-suite hotel in London. This exclusive partnership provides guests with complimentary helicopter transfers from top private jet terminals to the hotel's luxurious suites. Flexjet has launched a helicopter partnership with The Emory hotel in London Another exciting collaboration came in 2024 when Flexjet teamed up with Italian yachting giant Ferretti Group. Through this partnership, Flexjet's shared aircraft owners and customers gain VIP access to prestigious boat shows and private tours of Ferretti Group's Riva shipyard, as well as special deals on Riva products and accessories. On the flip side, Ferretti Group clients get access to Flexjet's global fleet and private terminals at key airports, further enhancing the luxury experience. Flexjet's expansion doesn't stop in the air. The company is also extending its luxury offerings to the ground. This includes high-profile sponsorships of prestigious events like the Snow Polo World Cup in St. Moritz, where owners enjoy private invitations and VIP access. These exclusive experiences help position Flexjet not just as a private aviation company, but as a lifestyle choice for those who appreciate the finer things in life.
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
