SAO PAULO, Brazil: Brazilian aircraft manufacturer Embraer has secured a landmark agreement with Flexjet, marking the largest executive jet order in its history. 

The deal, valued at up to US$7 billion, includes firm orders for 182 jets and options for an additional 30, the company announced.

The order provides a significant boost to Embraer, which has already been benefiting from strong demand for its commercial and military aircraft. Flexjet, a fractional jet ownership firm, is expanding its fleet as demand for private aviation continues to grow.

"This is the largest order placed by Flexjet in its 30-year history and is also the largest firm order for Embraer's executive aircraft," the Brazilian company said in a statement.

The deal includes a mix of Praetor 600, Praetor 500, and Phenom 300E jets, along with related services and support. Following the announcement, Embraer's shares surged more than 9.5 percent in early trading on the Sao Paulo stock exchange, making it the top gainer on Brazil's benchmark Bovespa index.

Embraer previously signed a deal with NetJets in 2023 for up to 250 Praetor 500 jets, though those were initially options rather than firm orders. NetJets, owned by Berkshire Hathaway, has since begun converting those options into confirmed purchases, reflecting positive momentum in the business jet sector.

JPMorgan analysts estimate that the Flexjet order could increase Embraer's total backlog by 26 percent, pushing it to approximately $28.7 billion. They also project that Flexjet will double its fleet over the next five years, with deliveries expected within that timeframe.

While Embraer did not specify when the orders would be added to its backlog or when deliveries would begin, the deal underscores the continued strength of the private jet market and Embraer's expanding footprint in the executive aviation segment.