Tuesday, 22 October 2019

Flexjet Announces $1.4 Billion Aircraft Order from Embraer Executive Jets

Flexjet LLC, a global leader in fractional private jet travel, today announced that it has placed a $1.4 billion order with Embraer Executive Jets, a division of Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3), for the Praetor mid- and super midsized aircraft and Phenom 300 light jets.

Embraer Executive Jets President and Chief Executive Officer Michael Amalfitano and Flexjet Chief Executive Officer Michael Silvestro made the announcement at the 2019 National Business Aviation Association Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas.

“The spirit of innovation at Embraer keeps us coming back time and again because it dovetails perfectly with our commitment to provide the youngest, most modern fleet to our Owners,” said Flexjet Chief Executive Officer Michael Silvestro. “These aircraft are sure to be crowd-pleasers with their extraordinarily long-range and impressive speed for aircraft of their size.”

In 2016, Flexjet introduced the midsized Embraer Legacy 450 to the fractional ownership market. Since that time, the Legacy 450 has proven exceptionally popular as a key component of the premium Red Label by Flexjet offering. In competing head-to-head with the Citation Latitude, the Legacy 450 stands out with 10 percent more cabin volume, a speed advantage of more than 40 MPH and an additional 40 cubic feet of baggage space, to name just a few of the superior features. And nearly 35,000 hours of flight data from Flexjet Owners fueled Embraer’s development of the Praetor.

Building off of that exceptional platform, Flexjet will be converting its full Legacy 450 fleet into Praetor 500s, further providing Flexjet travellers with an exceptional aircraft available in the midsized category.

Flexjet Fleet to Include Family of Praetor Mid- and Super Midsized Aircraft
Strong Sales and Customer Response to Phenom 300 and Legacy 450 Drove Order
This is the Fourth Time Flexjet’s Management Team Has Introduced a New Embraer Jet to the Fractional Market

Accepting delivery of the Praetors will make for the fourth time Flexjet’s management team has introduced new Embraer aircraft to the fractional market. Previous introductions were the Legacy Executive in 2003, the Phenom 300 in 2010 and the Legacy 450 in 2016.

“The Praetors are the most technologically advanced and most disruptive aircraft, created to dominate the mid- and super midsized business jet market,” said Embraer Executive Jets President and Chief Executive Officer Michael Amalfitano. “And we couldn’t be more delighted that industry innovator Flexjet, our partner for more than a decade, is making the most modern aircraft available to its Owners.”

The Praetor upgrades the Legacy 450/500 into true corner-to-corner, transcontinental and, in many cases, transoceanic aircraft. The Praetors have ranges of 3,843 statute miles (Praetor 500) and 4,623 statute miles (Praetor 600) and are powered by advanced, quiet, fuel-efficient Honeywell engines, the greenest in their class. The distance capabilities are possible because of the jet’s increased fuel capacity and much larger, aerodynamically efficient winglets.

With cruising speeds of 540+ MPH, a ceiling of 45,000 feet and short takeoff field lengths (4,222 feet for the Praetor 500 and 4,717 feet for the Praetor 600) this aircraft provides operating capabilities usually associated with aircraft and price points a class up.

Both aircraft offer unparalleled comfort and luxury in their category, with the lowest cabin altitude, which remains practically at sea level through 27,050 feet and gradually rises thereafter to a maximum of only 5,800 feet when at 45,000 ft. The cabin’s low altitude is complemented by whisper-silent acoustic comfort, further enhanced by the smoothest flight possible with the class-exclusive fly-by-wire technology that dynamically reduces turbulence. The stand-up cabins have flat floors and full-sized wet galleys with granite flooring, which is also in the lavatory where a complete vanity and conveniently located wardrobe, with space to hang apparel and stow handbags, make for ideal arrival preparations.

The Phenom 300, one of the most popular light business jets in the industry, has many of the attributes of a larger aircraft matched with the conveniences and ease of operation associated with light jets. It can seat up to seven in Flexjet’s configuration, has a cruising speed of 521 MPH true air speed powered by Pratt & Whitney engines and a maximum operating altitude of 45,000 feet – well above most variable weather patterns. Flexjet introduced the Phenom 300 to the fractional ownership market in 2010.1

In anticipation of this substantial order, Flexjet has been aggressive in recruiting pilots this year and recently met its 2019 goal of hiring 175 new pilots.

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