Embraer and Flight Options Sign for 100 Phenom 300 Jets

SAO JOSE DOS CAMPOS, Brazil -- Embraer and Flight Options, one of the largest private jet service companies in the world, based in Cleveland, OH, 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.

"Having the Phenom 300 selected by Flight Options as the one of their main strategies for future growth is both rewarding and an honor for all of us at Embraer. It clearly validates the design concepts of premium comfort, outstanding performance and high availability of the Phenom 300 and solidifies its market-leading position," says Frederico Fleury Curado, Embraer President and CEO.

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.

"Embraer's reputation for innovation and best-in-class products is evident in every aspect of the Phenom 300," says Flight Options CEO S. Michael Scheeringa. "With an outstanding combination of performance, cabin comfort and baggage capacity, the Phenom 300 will become the mainstay of the Flight Options fleet."

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.