Order Valued At Over $1 Billion With Options

Brazilian planemaker Embraer, and Cleveland, OH-based fractional program Flight Options,  announced Monday the two have signed a contract for the acquisition of 100 Phenom 300 aircraft, with options for an additional 50 aircraft of the same model.

The deal is Embraer's largest Phenom executive jet order, worth $746 million at 2007 list price, and could reach $1.12 billion if all options are exercised. An additional agreement for a maintenance and support program is valued at over $200 million.

“Having the Phenom 300 selected by Flight Options as the one of their main strategies for future growth is both rewarding and an honor for all of us at Embraer. It clearly validates the design concepts of premium comfort, outstanding performance and high availability of the Phenom 300 and solidifies its market-leading position,” said Frederico Fleury Curado, Embraer President and CEO.

Flight Options ordered its first Embraer plane in 2003, a Legacy 600. The company currently operates eight of those planes.

“Embraer’s reputation for innovation and best-in-class products is evident in every aspect of the Phenom 300,” said Flight Options CEO S. Michael Scheeringa. “With an outstanding combination of performance, cabin comfort and baggage capacity, the Phenom 300 will become the mainstay of the Flight Options fleet.”

The delivery of the first Flight Options Phenom 300 jet is scheduled for the end of 2009.

FMI: www.flightoptions.com, www.embraer.com