Embraer, Flight Options Ink Megabuck Contract

Embraer and Flight Options, one of the largest private jet service companies in the world, based in Cleveland, Ohio, signed a contract for the acquisition of 100 Phenom 300 aircraft, with options for an additional 50 aircraft of the same model.

This is the Company’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.

The relationship between Embraer and Flight Options dates back to 2003, with the acquisition of its first Legacy 600. The company currently operates a fleet of eight Legacy 600 executive jets.

In line with Embraer’s vision of providing integrated solutions, Flight Options will have the services of a comprehensive maintenance and support program, customized to the company’s operational profile. This program, combined with the Phenom 300’s high availability design, will enable Flight Options to maximize fleet utilization and drive profitability.

The delivery of the first Flight Options Phenom 300 jet is scheduled for the end of 2009. The aircraft will meet the heavy demand for the company’s concept of fractional aircraft ownership, throughout its nationwide service network in the United States.