Embraer (NYSE:ERJ) Negotiating $495-M Aircraft Sale to Surf Air

Embraer (NYSE:ERJ) Negotiating $495-M Aircraft Sale to Surf Air

Embraer (NYSE:ERJ) Negotiating $495-M Aircraft Sale to Surf Air

$ERJ, $TXT

Brazil’s Embraer , the world’s 3rd-largest commercial aircraft maker, is negotiating an order with Surf Air of California for up to 50 Phenom 300 executive jets worth $495-M, the Valor Economico newspaper reported Monday.

Surf Air, a US business aviation company based in Santa Monica, California, plans to expand its services to Europe in mid-2017 and needs a larger fleet to reach that goal, its CEO Simon Talling-Smith said.

He said Surf Air is also talking to US aircraft maker Textron (NYSE:TXT), with an eye on its Cessna Citation CJ4 corporate jets.

The Embraer Phenom 300 is a light business jet that can carry 7 to 9 passengers and is Embraer’s biggest selling executive aircraft.

Embraer was not available for immediate comment.

Symbol Last Trade Date Change Open High Low Volume
NYSE:ERJ 20.1 25 October 2016 0.17 19.85 20.42 19.76 880,200
HeffX-LTN Analysis for ERJ: Overall Short Intermediate Long
Bullish (0.35) Bullish (0.44) Bullish (0.31) Bullish (0.29)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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