Shares of Embraer SA (ERJ) surged Wednesday after the company’s executive jets division secured a record-breaking $7 billion order from Flexjet. The deal includes 182 firm orders with 30 additional options, marking the largest order in Flexjet’s 30-year history and Embraer’s biggest firm order for executive aircraft.
The agreement covers Embraer’s Praetor 600, Praetor 500, and Phenom 300E models, strengthening a partnership that began in 2003. Flexjet CEO Michael Silvestro highlighted the continued success of Embraer aircraft in the company’s fleet, noting the Praetor 600’s strong demand in Europe and its expansion into North America last year.
Embraer’s strong performance extends beyond this deal. The company delivered 75 aircraft in Q4 FY24, a 27% increase from the previous quarter, bringing total deliveries to 206 for the year, up 14% from FY23.
