Flexjet Announces $1.4 Billion Aircraft Order from Embraer Executive Jets

Flexjet LLC, a global leader in fractional private jet travel, today announced that it has placed a $1.4 billion order with Embraer Executive Jets, a division of Embraer S.A. (NYSE: ERJ; BM&FBOVESPA: EMBR3), for the Praetor mid- and super midsized aircraft and Phenom 300 light jets.

Embraer Executive Jets President and Chief Executive Officer Michael Amalfitano and Flexjet Chief Executive Officer Michael Silvestro made the announcement at the 2019 National Business Aviation Association Business Aviation Convention & Exhibition (NBAA-BACE) in Las Vegas.

"The spirit of innovation at Embraer keeps us coming back time and again because it dovetails perfectly with our commitment to provide the youngest, most modern fleet to our Owners," said Flexjet Chief Executive Officer Michael Silvestro. "These aircraft are sure to be crowd-pleasers with their extraordinarily long range and impressive speed for aircraft of their size."

In 2016, Flexjet introduced the midsized Embraer Legacy 450 to the fractional ownership market. Since that time, the Legacy 450 has proven exceptionally popular as a key component of the premium Red Label by Flexjet offering. In competing head-to-head with the Citation Latitude, the Legacy 450 stands out with 10 percent more cabin volume, a speed advantage of more than 40 MPH and an additional 40 cubic feet of baggage space, to name just a few of the superior features. And nearly 35,000 hours of flight data from Flexjet Owners fueled Embraer's development of the Praetor.

Building off of that exceptional platform, Flexjet will be converting its full Legacy 450 fleet into Praetor 500s, further providing Flexjet travelers with an exceptional aircraft available in the midsized category.

Accepting delivery of the Praetors will make for the fourth time Flexjet's management team has introduced new Embraer aircraft to the fractional market. Previous introductions were the Legacy Executive in 2003, the Phenom 300 in 2010 and the Legacy 450 in 2016.

"The Praetors are the most technologically advanced and most disruptive aircraft, created to dominate the mid- and super midsized business jet market," said Embraer Executive Jets President and Chief Executive Officer Michael Amalfitano. "And we couldn't be more delighted that industry innovator Flexjet, our partner for more than a decade, is making the most modern aircraft available to its Owners."

The Praetor upgrades the Legacy 450/500 into true corner-to-corner, transcontinental and, in many cases, transoceanic aircraft. The Praetors have ranges of 3,843 statute miles (Praetor 500) and 4,623 statute miles (Praetor 600) and are powered by advanced, quiet, fuel-efficient Honeywell engines, the greenest in their class. The distance capabilities are possible because of the jet's increased fuel capacity and much larger, aerodynamically efficient winglets.

With cruising speeds of 540+ MPH, a ceiling of 45,000 feet and short takeoff field lengths (4,222 feet for the Praetor 500 and 4,717 feet for the Praetor 600) this aircraft provides operating capabilities usually associated with aircraft and price points a class up.

Both aircraft offer unparalleled comfort and luxury in their category, with the lowest cabin altitude, which remains practically at sea level through 27,050 feet and gradually rises thereafter to a maximum of only 5,800 feet when at 45,000 ft. The cabin's low altitude is complemented by whisper-silent acoustic comfort, further enhanced by the smoothest flight possible with the class-exclusive fly-by-wire technology that dynamically reduces turbulence. The stand-up cabins have flat floors and full-sized wet galleys with granite flooring, which is also in the lavatory where a complete vanity and conveniently located wardrobe, with space to hang apparel and stow handbags, make for ideal arrival preparations.

The Phenom 300, one of the most popular light business jets in the industry, has many of the attributes of a larger aircraft matched with the conveniences and ease of operation associated with light jets. It can seat up to seven in Flexjet's configuration, has a cruising speed of 521 MPH true air speed powered by Pratt & Whitney engines and a maximum operating altitude of 45,000 feet ? well above most variable weather patterns. Flexjet introduced the Phenom 300 to the fractional ownership market in 2010.¹

In anticipation of this substantial order, Flexjet has been aggressive in recruiting pilots this year and recently met its 2019 goal of hiring 175 new pilots.

About Flexjet

Flexjet first entered the fractional jet ownership market in 1995. Flexjet offers fractional jet ownership and leasing. Flexjet's fractional aircraft program is the first in the world to be recognized as achieving the Air Charter Safety Foundation's Industry Audit Standard, is the first and only company to be honored with 20 FAA Diamond Awards for Excellence, upholds an ARG/US Platinum Safety Rating and is IS-BAO compliant at Level 2. Flexjet's fractional program fields an exclusive array of business aircraft?some of the youngest in the fractional jet industry, with an average age of approximately six years. In 2015, Flexjet introduced Red Label by Flexjet, which features the youngest fleet in the industry, flight crews dedicated to a single aircraft and the LXi Cabin Collection of interiors. To date there are more than 30 different interior designs across its fleet, which includes the Challenger 350, the Embraer Legacy 450, Global Express, the Gulfstream G450, G500 and G650, and the Aerion AS2 supersonic business jets. In addition, the overall jet collection includes the Embraer Phenom 300 and Bombardier Challenger 300. Flexjet is a member of the Directional Aviation family of companies. For more details on innovative programs and flexible offerings, visit www.flexjet.com or follow us on Twitter @Flexjet and on Instagram @FlexjetLLC.

About Embraer Executive Jets

Embraer is one of the world's leading executive jet manufacturers, having entered the business aviation market in 2000 with the Legacy jet, which led to the launch of Embraer Executive Jets in 2005. Its portfolio, among the broadest in the market, consists of the entry-level Phenom 100EV and the light Phenom 300E jet, the medium cabin Legacy 450 and Legacy 500, the midsize Praetor 500 and super-midsize Praetor 600, the large Legacy 650E, and the ultra-large Lineage 1000E. Embraer Executive Jets' global fleet exceeds 1,300 aircraft, which are in operation in more than 70 countries and are supported by the Company's global Customer Support and Services network of over 70 owned and authorized service centers, complemented by a 24/7 Contact Center, at its headquarters, in Brazil. For more information, please visit executive.embraer.com.

¹ 2010 introduction of Phenom 300 to fractional marketplace via Flexjet's joined heritage with Flight Options LLC in 2013