Options Converted To Firm Orders Worth Over $89 Million

Embraer Executive Jets and NetJets have signed an agreement to convert 10 Signature Series Phenom 300 purchase options into firm orders. At current list prices, this addition to the contract is worth $89.55 million, which will be included in the backlog of the fourth quarter of 2014. In October 2010, a purchase agreement was signed for 50 firm and 75 options. The total value of the deal may exceed $1 billion, if all options are exercised.

"NetJets' addition of 10 aircraft to their order reaffirms the success of the Signature Series Phenom 300 and of our relationship," said Marco Tulio Pellegrini, President & CEO, Embraer Executive Jets. "The Phenom 300's market acceptance continues to grow in the fractional and corporate markets, having recently become the most delivered business aircraft."

Embraer has now delivered 36 Signature Series Phenom 300s to NetJets. These aircraft operate in the NetJets fleet, with fractional owners in the U.S. and Europe. Deliveries of the 10 additional aircraft will begin as of January 2016. 

"The Signature Series Phenom 300 is an outstanding light jet and the fastest selling aircraft ever in NetJets fleet," said NetJets Senior Vice President of Global Asset Management Chuck Suma. "The Signature Series Phenom 300s are customized by adding special features, including advanced in-flight entertainment, a custom cabin design including specially selected fabrics and materials, enhanced seating, broad spectrum lighting and spacious storage features, as well as the most advanced avionics and technological features to ensure maximum safety, reliability and operating efficiency."

(Image from file)

FMI: www.embraer.com