Embraer Executive Jets announced a purchase agreement with Flexjet that comprises a fleet of Embraer business jets including the Praetor 600, Praetor 500 and Phenom 300E models, as well as an enhanced suite of services and support.
The agreement is valued at up to US$7 billion at current list prices. This is the largest order placed by Flexjet in its 30-year history and is also the largest firm order for Embraer’s executive aircraft. With the order, Flexjet reaffirms its longstanding commitment as Embraer’s first fleet customer for Praetor jets and now introduces the improved new generation of the Phenom 300E model to its growing global portfolio.
“We are delighted with Flexjet’s renewed commitment to Embraer through this comprehensive purchase agreement, which strengthens even further our strategic partnership of over 20 years,” said Michael Amalfitano, President & CEO, Embraer Executive Jets. “We are excited to continue offering Flexjet’s customers access to our market-leading Phenom jets and our Praetor jets, the best in their respective categories.”
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. This longstanding partnership has grown significantly over the years and continues today with a growing presence of Praetor 600, Praetor 500 and Phenom 300 series aircraft in Flexjet’s global fleet.
“Now in our 30th year at Flexjet, it seems fitting to extend our rewarding and long-term relationship with Embraer with this historic firm order. Since 2003, we have accepted delivery of more than 150 Embraer aircraft,” said Michael Silvestro, CEO of Flexjet. “Both the Praetor 500 and Praetor 600 are high performers in the Flexjet fleet. Praetor 600 was so well accepted in Europe, we opted to include it in our North American fleet in 2023, extending our Embraer fleet across two continents. And as the first fractional provider of the Praetor 500, our maintenance technicians and our pilots are intimately familiar with the aircraft and are looking forward to the continued growth of this fleet.”
Flexjet has a history of being the first fleet customer for three Embraer products – the Legacy Executive in 2003, the Phenom 300 in 2010, the Legacy 450 in 2016, and the Praetor 500 / Praetor 600 in 2019. Furthermore, Flexjet has helped Embraer to reach key milestones, such as the delivery of the 100th Phenom 300 in 2012 and the 1,000th Embraer executive jet, a Legacy 500, in 2016. These aircraft have broken barriers in their respective classes, with the Phenom 300 being the most delivered light business jet in the world for 12 consecutive years, according to numbers released by GAMA (General Aviation Manufacturing Association). The Legacy 450 and Legacy 500 were both the first fly-by-wire aircraft in Flexjet’s fleet, offering performance capabilities of larger aircraft with midsized economics.
Embraer reached an all-time US$ 26.3 billion backlog
Embraer reported that its organisation-wide backlog reached US$26.3 billion in 4Q24. The value is the largest ever recorded by the company in its history, and more than 40% higher year-on-year and 16% higher quarter-on-quarter. Embraer finished 2024 with an industry leading 2.2 book-to-bill ratio based on financial values.
Embraer delivered 75 aircraft in the last quarter of the year, 27% more than the 59 aircraft in the previous quarter (3Q24), and equal to the number in the same period a year ago (4Q23). Meanwhile, the company delivered a total of 206 aircraft in 2024 – a 14% increase compared to the 181 aircraft in 2023.
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