Embraer executives today announced its largest fleet order for the Phenom 100 very light jet (VLJ) with a 100-aircraft deal from US air-taxi start-up Magnum Jet.
Magnum's website had already been advertising its plans for the Phenom 100, but the deal for 50 firm plus 50 option aircraft is was officially announced today New York, where key executives opened the New York Stock Exchange by ringing its famous bell (pictured below).
Left-Right: Anna Cecilia Bettencourt, Embraer head of investor relations, Antonio Luiz Pizarro Manso, Embraer chief financial officer, John Thain, chief executive of the New York Stock Exchange, Maurício Novis Botelho, Embraer chief executive and Luís Carlos Affonso, Embraer executive vice president for its executive jets division
Magnum, which will be Embraer's first air-taxi customer in the USA, says it also has orders and options for 100 Adam A700s. On its website, the company is offering the $2.85 million Phenom 100 for availability in early 2009, and the $2.25 million A700 for early 2007 - although certification of the Adam VLJ is not expected before late next year.
Magnum's business model is to sell the aircraft to customers and then manage their operation, working jointly with the Million Air chain of fixed-base operations. The managed aircraft will be used to operate an "air limousine" service between selected city-pairs, with the owners getting a revenue credit to offset ownership costs.
Embraer has already signed a deal for 50 firm and 50 option Phenom 100s with European air-taxi start-up JetBird, part of a backlog of 235 firm orders for the Phenom family announced at July's Farnborough air show.