“[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's Executive Jet Division Looks Healthy
The new executive-jet division of Brazilian aircraft manufacturer Embraer-best known in past years for building regional airliners-is doing remarkably well. Third-quarter numbers, which the company released in November, show that it had received 300 orders for its new Phenom 100 very light jet and Phenom 300 light jet as of September 30. It also delivered 17 Legacy 600s in the first three quarters of 2006 and, according to an Embraer spokesman, "2006 will be a record year for Legacy 600 deliveries." Embraer's executive jet division accounted for 20.5 percent of the company's net sales total of $894.1 million during the same time frame.