Embraer Receives First Fleet Order For 50 Phenom 100s

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Embraer had a good EBACE. In addition to announcing its Lineage 1000 large bizjet, the Brazilian manufacturer last week said a start-up European executive jet service has placed an order for 50 Phenom 100 jets, with options for an additional 50 aircraft. The service, Swiss-based JetBird, is poised to launch a new pan-European low-cost executive jet service, although its timing was clear. Embraer said the Phenom 100 is expected to enter service in mid-2008 and JetBird is scheduled to take delivery of its first aircraft in April 2009. The $140 million contract allows JetBird to convert its positions into either the Phenom 100 or the Phenom 300. “One year ago today we launched the Phenom 100 and the Phenom 300 at a ceremony in Washington, D.C. There is a significant potential for very light and light jet products in Europe, and we are glad to offer JetBird the Phenom as the right airplane at the right time,” said Maurício Botelho, Embraer president and CEO.

Mr. Dómhnal Slattery, founder and chairman of JetBird, commented, “JetBird has a clear and compelling vision that will revolutionize the executive travel market in a manner similar to the low-cost airline transformation of the commercial air travel market. We will provide an attractive alternative for existing executive jet users, but also bring the executive jet travel experience to a market for whom it has been too expensive. We are delighted to have Embraer as a key stakeholder in our business given its exemplary track record of innovation in aircraft design and production.” With this order, JetBird becomes the European launch fleet customer for the Phenom 100.