Brazilian aircraft manufacturer Embraer (ERJ) saw a significant increase in its stock price following the announcement of a major purchase agreement with Flexjet.
182-Aircraft Mega Order
The deal with Flexjet includes 182 firm orders for the Praetor 600, Praetor 500, and Phenom 300E models, with an additional 30 options, and is valued at up to $7 billion. The agreement also includes an enhanced service and support package. This order is not only the largest in Flexjet’s 30-year history but also the biggest order Embraer has ever received for its business jets.
Strengthening Partnership Since 2003
The partnership between Embraer and Flexjet began in 2003 with the launch of the Legacy Executive Jet. Flexjet CEO Michael Silvestro stated, “Since 2003, we’ve received more than 150 Embraer aircraft. The Praetor 600 has had significant success, particularly in Europe, and we added it to our North American fleet in 2023. This has allowed us to expand Embraer aircraft across two continents.”
Record Deliveries for Embraer in 2024
Embraer delivered 75 aircraft in the fourth quarter of its 2024 fiscal year, marking a 27% increase compared to the previous quarter. The company’s total deliveries for the year reached 206 aircraft, a 14% increase.
Significance of the Flexjet Deal
Flexjet’s latest purchase will further strengthen the company’s growing global fleet. The massive order is expected to expand Flexjet’s operations in North America and Europe. The deal presents a strategic growth opportunity not only for Flexjet but also for Embraer in the business jet market.
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