Private Jet Industry Comes of Age as Flight Options Places Near $1 Billion Phenom 300 Aircraft Order with Embraer
Flight Options, LLC, a leading provider of private-jet services, announced that the Company has placed an order for nearly $1 billion worth of Phenom 300 light-jets with Embraer. The transaction provides striking evidence of the continued growth of the private jet industry, and spotlights Flight Options' emergence as the industry's leading innovator.
The Phenom order sent an unmistakable signal that H.I.G. supports the growth of Flight Options and is looking to take the Company, which already has the world's second largest dedicated private jet fleet, to the next level. The firm order consists of 100 aircraft to be delivered over the next ten years with options for another 50 aircraft. The first delivery is scheduled to occur in late 2009.
"This aircraft order demonstrates Flight Options' commitment to providing our customers the highest levels of innovation and value available in private aviation today," said S. Michael Scheeringa, chief executive officer, Flight Options, LLC. "The Embraer Phenom 300 is at the forefront of design and aerospace technology, and provides private-jet users with the performance, reliability and luxury they demand." Scheeringa continued, "This order is a defining moment for Flight Options, and represents, in turn, a commitment from H.I.G. Capital to the long term growth of this company."