EMBRAER S.A.: NetJets Doubles Down on Phenom 300 Series with New Deal, Signifies More Than Decade of Trust in Embraer

Rhea-AI Summary

Embraer and NetJets have signed a deal for up to 100 additional Phenom 300E aircraft worth over $1.2 billion, building on their successful partnership. Deliveries are set to begin in Q2 2023, enhancing NetJets' customer offerings in the U.S. and Europe. This agreement highlights NetJets' ongoing trust in Embraer's quality and performance, reaffirming the Phenom 300 series' status as the best-selling light jet for nine consecutive years.

Positive

• New order for up to 100 Phenom 300E aircraft, exceeding $1.2 billion.
• Deliveries scheduled to start in Q2 2023, indicating strong future revenue stream.
• Strengthens partnership between Embraer and NetJets, enhancing market trust.
• Phenom 300 series recognized as the best-selling light jet for nine years.

Negative

• None.

MELBOURNE, Florida, Oct. 11, 2021 /PRNewswire/ -- After successfully delivering over 100 Phenom 300s—one of NetJets' most requested aircraft—Embraer (B3: EMBR3, NYSE: ERJ) and NetJets, Inc. have signed a continuing deal for up to 100 additional aircraft, in excess of $1.2 billion. As part of the deal, NetJets will begin taking delivery of the Phenom 300E in the second quarter of 2023, in both the U.S. and Europe.

NetJets first signed a purchase agreement with Embraer in 2010, for 50 Phenom 300 executive jets plus up to 75 options. With this new aircraft order, which includes a comprehensive services agreement, NetJets signifies their commitment to an enhanced customer experience and their trust in Embraer's industry-leading portfolio and customer support network to deliver the ultimate experience to its customers.

"We are pleased to have signed this significant deal with NetJets, as our strategic partnership has been an integral part of Embraer's success for over a decade," said Michael Amalfitano, President & CEO of Embraer Executive Jets. "NetJets is recognized worldwide for the excellence of its operations and for providing an outstanding customer experience, so this continuing deal is an endorsement to the quality of our product and standards in performance, technology, comfort, and support. Embraer and NetJets share the same vision for business aviation, making the Phenom 300 series—the best-selling light jet for nine years in a row—an excellent choice."

"For years, the Embraer Phenom 300 has been an integral part of the NetJets fleet. With this order for the Phenom 300E, we continue to provide our Owners with the exceptional travel experiences they have come to expect, as well as continue our significant partnership with Embraer," said Doug Henneberry, Executive Vice President of Aircraft Asset Management at NetJets, Inc.

Link to images: https://eej.imagerelay.com/sb/fee8faa6-91f8-4341-96f1-f81e06a8fc89/netjets-embraer 

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About Embraer Executive Jets
Embraer is creating tomorrow's world of bespoke private air travel today, utilizing industry-leading innovation, design, and technology—all the while incorporating sustainable and socially responsible practices. As a global company with more than 50 years in aerospace, Embraer delivers the ultimate experience in business aviation through aircraft that feature disruptive performance, comfort, and technology. Its portfolio consists of the Phenom 100EV, which offers the business aviation experience in its purest form; the Phenom 300E, which is the best-selling light jet for the past nine years straight; and the Praetor 500 and the Praetor 600, which with best-in-class flight range, are the most disruptive and technologically advanced midsize and super-midsize business jets, capable of continent-crossing and ocean-spanning missions, respectively. Every day, Embraer business aircraft operate around the globe, supported by a strong, responsive customer support network that's top-ranked in service across the industry. For more information, visit executive.embraer.com.

About NetJets Inc.
Originally incorporated in 1964 as Executive Jet Airways, NetJets Inc. has been setting—and exceeding—industry standards for more than 55 years. Today, NetJets Inc. is proud to be a Berkshire Hathaway company known for its unwavering commitment to safety and service. It encompasses NetJets, Executive Jet Management, QS Partners, and QS Security and offers a variety of travel solutions customized to fit each Owner's needs. This includes fractional aircraft ownership, lease and jet card options, aircraft management, private jet chartering, brokerage and acquisition services, and specialized security services. This is why so many of the world's most discerning travelers choose NetJets Inc. generation after generation. It is also because NetJets has the largest, most diverse private jet fleet in the world, which grants anytime access to even the most remote destinations across the globe. To learn more about the leader in private aviation, visit netjets.com today. 

About Embraer

A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial and Executive aviation, Defense & Security and Agricultural Aviation. The company designs, develops, manufactures and markets aircraft and systems, providing Services & Support to customers after-sales.

Since it was founded in 1969, Embraer has delivered more than 8,000 aircraft. On average, about every 10 seconds an aircraft manufactured by Embraer takes off somewhere in the world, transporting over 145 million passengers a year.

Embraer is the leading manufacturer of commercial jets up to 150 seats and the main exporter of high value-added goods in Brazil. The company maintains industrial units, offices, service and parts distribution centers, among other activities, across the Americas, Africa, Asia and Europe.

PRESS OFFICES:

Headquarters (Brazil)

Corporate Communications  
embraer@idealhks.com   
Cell: +55 11 98890 7777 
Tel.: +55 11 4873 7984

North America

Alyssa Ten Eyck  
ayeck@embraer.com    
Cell: +1 954 383 0460 
Tel.: +1 954 359 3847

Europe, Middle East and Africa

Guy Douglas  
guy.douglas@nl.embraer.com    
Cell: +31 (0)657120121  
Tell: +31 (0)202158109

China

Mirage Zhong
mirage.zhong@bjs.embraer.com
Cell:  +86 185 1378 5180
Tel.: +86 10 6598 9988

Asia Pacific

Nilma Missir-Boissac 
nilma.boissac@sin.embraer.com  
Cell: +65 9012 8428 
Tel.: +65 6305 9955

View original content:https://www.prnewswire.com/news-releases/embraer-sa-netjets-doubles-down-on-phenom-300-series-with-new-deal-signifies-more-than-decade-of-trust-in-embraer-301396934.html

SOURCE Embraer S.A.

FAQ

What is the value of Embraer's new deal with NetJets for the Phenom 300E aircraft?

The deal is valued at over $1.2 billion.

When will NetJets start receiving deliveries of the Phenom 300E?

Deliveries are set to begin in the second quarter of 2023.

How many additional Phenom 300E aircraft has Embraer secured orders for with NetJets?

Embraer has secured orders for up to 100 additional Phenom 300E aircraft.

How long has the partnership between Embraer and NetJets been ongoing?

The partnership has been ongoing for over a decade.

What does the new deal signify for Embraer in the business aviation market?

The deal signifies continued trust in Embraer's quality and performance in business aviation.