With around 300 airplanes currently in use and retirements not considered, more potential deals would be in the works as Flexjet plans to double its fleet by 2031.

Brazilian planemaker Embraer shares rose more than 15% on Wednesday, hitting an all-time high after the company announced a deal to supply Flexjet with up to 212 jets, a contract valued at up to $7 billion at current list prices.

Flexjet (LXJ, Cleveland Cuyahoga Country) has signed a purchase agreement with Embraer Executive Jets for 182 aircraft, with an option for 30 more, in a deal valued at up to USD7 billion. The company confirmed to ch-aviation that the order primarily consists of Praetor 500 and Praetor 600 aircraft,