» First Phenom 300 Delivery Expected

First Phenom 300 Delivery Expected

By Allison Medoff

embraer_phenom300

Embraer, Brazil’s leading aircraft manufacturer has hit some turbulence due to our current global financial crisis. Despite the bumpy ride, an unaffected private Australian investor has spent $US8 million for one of the first Phenom 300 executive jets expected for delivery next year.

The company is one of the world’s largest manufacturers of commercial jets, however sales for their private jet line is down this year due to the economic crisis. Corporate owners and private investors alike have been putting off the purchase of a new jet during the money squeezed times and others still are having trouble paying off planes already bought. The number of cancelled aircrafts to be delivered this year is down from 320 to 242. Embraer has been forced to reduce its staff by 20%, which account for a large number of the 4,300 employee lay-offs in Brazil.

The brand new Phenom 300 is one of the fastest jets in the light jet category and carries up to 10 passengers. The interior, designed by BMW boasts a refreshment bar, cabin lavatory, wardrobe, and storage big enough to accommodate skis or golf bags. The aircraft can fly at a height of 45,000 feet for three to four hours at a max speed of 833k/h.

Australia holds true to be an important buyer for Embraer during this rocky financial period. About 3% of new aircraft made by Embraer is sold to the Australian market and of 800 Embraer planes operating in Asia, 150 are in Australia. Vice-president, Jose Eduardo Costas has confidence he will be able to convince more corporations and private individuals to invest in his private jets. Once the Aussie’s get a glimpse of the new Phenom 300 soaring their skies it may not be such a daunting task for Costas after all.

Via The Australian

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