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1.4 billion business jet deal with Praetor Fleet Launch Customer

Download: Printable PDF Date: 21 Oct 2019 19:04 (UTC) categories:
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1.4 billion business jet deal with Praetor Fleet Launch Customer - Finance publisher
Tatjana Obrazcova
Country: United States Aircraft: Airplanes

An amazing announcement was made today at NBAA-BACE 2019 - 1.4 billion business jet deal!

Flexjet has placed a $1.4 billion order with Embraer Executive Jets for the Praetor mid- and super midsized aircraft and Phenom 300 light jets. With this purchase agreement, Flexjet becomes Embraer’s Praetor Fleet Launch Customer. Valued at up to USD 1.4 billion, at current list prices, this deal was included in the 2019 second quarter backlog, with deliveries starting in the fourth quarter of 2019.

“The spirit of innovation at Embraer keeps us coming back time and again because it dovetails perfectly with our commitment to provide the youngest, most modern fleet to our Owners,” said Flexjet Chief Executive Officer Michael Silvestro. “These aircraft are sure to be crowd-pleasers with their extraordinarily long range and impressive speed for aircraft of their size.”

“We are very grateful for Flexjet’s renewed commitment to Embraer through this new agreement, which reflects the growth and the strength of our partnership over the past 16 years and symbolizes our ongoing support for their journey ahead,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “Flexjet Owners will appreciate and enjoy a truly elevated customer experience in industry-leading aircraft, including the recently certified Praetor jets, which are different by design and disruptive by choice.”

 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 into its fleet. Offering customers a large cabin experience at super-midsize economics allowed Flight Options to serve more customers even better than before, while also supporting the company’s growth via Embraer’s high utilization, reliable aircraft design.

Flight Options introduced the Phenom 300 into its fractional program in 2010, receiving Embraer’s 100th milestone Phenom 300 in 2012, the first year in which the aircraft became the best-selling light jet. For the seventh consecutive year, the Phenom 300 has been the most delivered light business jet, according to GAMA (General Aviation Manufacturers Association). Also according to GAMA data, the Phenom 300 was the only business jet to reach the mark of 500 deliveries in the last decade.

Flexjet became the first fractional provider to offer the Legacy 500, in September 2015. In fact, Flexjet took delivery of Embraer’s 1,000th executive jet, a Legacy 500, in April 2016. The Legacy 450 joined the Legacy 500 in Flexjet’s Red Label fleet in August of that year, and both models became the first fly-by-wire Flexjet aircraft, offering performance and capabilities of larger aircraft with midsize economics.

Related event:
22
October
2019
United States, Las Vegas, Las Vegas Convention Center Henderson Executive Airport Las Vegas, NV.


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