Embraer and FlexJet have reached a deal for 182 executive aircraft, 30 options, and related support services. The deal is estimated to add $7 billion to Embraer’s backlog at list prices. Although a breakdown of the order by model has not yet been specified, it is expected to include the Phenom 300E light jets and the larger Praetor 500 and 600 models.
FlexJet, a US-based fractional ownership company, has operated more than 150 Embraer jets since 2003 and was the first fleet operator to adopt several new models, including the Legacy in 2003, Phenom 300 in 2010, Legacy 450 in 2016, and Praetor 500 and 600 in 2019. Flexjet is the second-largest operator of business jets and expects to double its fleet to around 600 aircraft by 2031.
Record Breaking Order
The order is a record-breaker for both parties: the largest order Flexjet has placed and the largest order received by Embraer’s executive jet unit.
“Since 2003, we have accepted delivery of more than 150 Embraer aircraft,” said Flexjet CEO Michael Silvestro. “The Praetor 600 was so well accepted in Europe, we opted to include it on our North American fleet in 2023, extending our Embraer fleet across two continents.” As a result, he noted that the company’s pilots and maintenance technicians are “intimately familiar” with the type.
“We are delighted with Flexjet’s renewed commitment to Embraer through this comprehensive purchase agreement, which strengthens even further our strategic partnership,” said Embraer Executive Jets president and CEO Michael Amalfitano. “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 Bottom Line
The order brings the Brazilian aircraft maker’s total backlog to $28.7 billion across its Commercial, Military, and Executive aircraft divisions. The former two recently secured key new orders and the executive jet unit is also seeing success. The company is on a roll, and it has the best-selling light jet, the Phenom 300E, and industry-leading performance and range with its Praetor family.
Flexjet has been growing its operations and will narrow the gap between itself and Berkshire Hathaway’s Netjets, currently the largest fractional ownership player in the market. The Phenom and Praetor models will supplement the Challenger 3500 family and Gulfstream G700 models in Flexjet’s aircraft portfolio. As an existing aircraft operator, this order will provide pilot training and maintenance synergies for Flexjet, which operates Phenom and Praetor aircraft in Europe and the US.
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