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| Embraer Phenom 300. Photo: Embraer Executive Jets |
[Avionics Today 12-30-2014] Embraer Executive Jets and private aviation operator NetJets have signed an agreement to convert 10 Signature Series Phenom 300 purchase options into firm orders. At current list prices, this addition to the contract is worth more than $89 million, which will be included in Embraer’s backlog of the fourth quarter of 2014.
In October 2010, a purchase agreement was signed for 50 firm and 75 options. The total value of the deal may exceed $1 billion, if all options are exercised. As of now, Embraer has delivered 36 Signature Series Phenom 300s to NetJets. Deliveries of the 10 additional aircraft will begin as of January 2016.