Historic Agreement Between Embraer and Flexjet Valued at $7 Billion
In a move that reaffirms its leadership in the executive aviation industry, Embraer Executive Jets announced this Wednesday the signing of a purchase agreement with Flexjet, a global leader in private jet travel. This agreement is considered the largest firm order for both companies and represents a significant milestone in their collaboration of over 20 years.
Details of the Agreement
The commitment includes a fleet of Embraer executive jets comprising the Praetor 600, Praetor 500, and Phenom 300E models, along with an enhanced service and support agreement. This firm order of 182 aircraft, with options for 30 more, will nearly double the size of Flexjet’s fleet over the next five years.
The total value of the agreement amounts to USD $7 billion at current list prices, making it the largest order in the history of Embraer Executive Jets and also in Flexjet’s 30-year trajectory.
Michael Amalfitano, President and CEO of Embraer Executive Jets, expressed his enthusiasm: “We are thrilled with Flexjet’s renewed commitment to Embraer through this comprehensive purchase agreement, which further strengthens our strategic alliance of over 20 years.”
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For his part, Michael Silvestro, CEO of Flexjet, highlighted the historical importance of this order: “Now, on our 30th anniversary at Flexjet, it is fitting to extend our successful and long-standing relationship with Embraer through this historic and groundbreaking firm order.”
A Long-Standing Alliance
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. Since then, the collaboration has grown significantly.
Flexjet has been the launch customer for three of Embraer’s major products: the Legacy Executive in 2003, the Phenom 300 in 2010, and the Praetor 500/600 in 2019. Additionally, the company has been part of significant milestones, such as the delivery of the 100th Phenom 300 in 2012 and the 1,000th Embraer executive jet in 2016.
Innovation and Leadership in the Industry
The Phenom 300, one of the models included in the recent agreement, has been the world’s best-selling light business jet for 12 consecutive years, according to figures from GAMA (General Aviation Manufacturers Association). The Legacy 450 and Legacy 500 models were the first fly-by-wire aircraft in the Flexjet fleet, offering performance comparable to larger aircraft but with mid-size economies.
This unprecedented agreement not only marks a turning point in the relationship between Embraer and Flexjet but also reaffirms both companies’ commitment to innovation, performance, and excellence in service within the executive aviation sector.
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