Flight Options, the second-largest fractional jet company in the U.S., has entered into a three-year, $167 million financing agreement with Banco Nacional de Desenvolvimento Econômico e Social (BNDES) to finance the company’s purchase of Embraer Phenom 300 jet aircraft. The first-of-its-kind loan agreement between BNDES and a fractional jet operator will be guaranteed by the Brazilian Ministry of Finance, advised by the Brazilian Export Credit Insurance Agency (SBCE).
In 2007, Flight Options placed an order for one hundred Phenom 300 business jets, plus an option to purchase 50 more. The total value of the order exceeds $1.2 billion, at the Phenom 300’s current list price. The company began taking delivery of the aircraft in May 2010 and currently has eight Phenom 300 jets in service. Flight Options anticipates having 15 Phenom 300 jets in operation by the end of 2011.
