Sale of a hundred planes boosts Embraer shares on the Stock Exchange

Image: Embraer

After announcing an agreement for the sale of 100 aircraft to the airline NetJets, the shares of Embraer (Empresa Brasileira de Aeronáutica SA) traded in high in yesterday’s trading (11), on the B3, the São Paulo Stock Exchange.

On Monday morning, Embraer said it had received an additional order of about $1.2 billion for the delivery of Phenom 300 executive jets to Warren Buffett’s NetJets.

Around 1:25 pm, EMBR3 papers advanced 5.26%, traded at R$ 26.04, with a retreat to 4.4%, traded at R$ 25.84, around 3:40 pm. At closing, the price reached R$ 25.96 per share, resulting in an appreciation of 4.88% in just one day.

The Phenom 300E is the best-selling light jet of the last nine years in the segment. NetJets’ first purchase agreement, signed in 2010, included 50 orders for the executive jets, plus options for up to 75 additional aircraft.

100 more aircraft

Embraer said that the new agreement with NetJets was closed after the delivery of more than 100 Phenom 300 jets. The new contract provides for the delivery of up to 100 additional aircraft and that NetJets, part of the Berkshire Hathaway group, will start receiving the model. Phenom 300E from the new order in the second quarter of 2023, for operation in the United States and Europe.

“With this new order, which includes a comprehensive services agreement, NetJets not only reinforces its commitment to creating an improved customer experience as demand for private aviation continues to grow, but also its confidence in the innovative portfolio of Embraer to offer the perfect experience to its customers,” said Embraer in a statement.

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Information from Brazil Agency (adapted)

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