“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Embraer Reports Progress with Phenoms
Embraer's Phenom 100 entry-level jet received European Aviation Safety Association certification in April. The Brazilian manufacturer introduced the five-passenger twinjet in 2005 and earned certification last December from the Brazilian Agencia Nacional de Aviacao Civil and the FAA. As of late April, 14 Phenom 100s had been delivered. Meanwhile, Embraer is deeply involved in certification tests of the Phenom 300, which the manufacturer expects will obtain FAA and Brazilian approval by year-end. The manufacturer's Legacy 450 and 500 are entering the detailed design phase, with certification pegged for the second half of 2013 and 2012.