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


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)

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