Embraer redesigns top-selling light jet for 2018

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LAS VEGAS (Reuters) - Embraer SA’s most popular corporate jet will be revamped next year, with the Brazilian planemaker on Monday announcing a redesigned cabin and new inflight entertainment system for its eight-seater Phenom 300.

Deliveries of the Phenom 300E, the new version of Embraer’s top-selling corporate plane, will begin during the first quarter of 2018, the company said in a statement. The redesign will raise the plane’s list price from $8.995 million to $9.45 million, the company said.

Over the past four years, the Phenom 300 has been the best-selling business jet in the world by units delivered, said U.S. aerospace analyst Richard Aboulafia by email.

Larger-cabin aircraft classes, ranging from the super mid-size through ultralong range, are expected to account for more than 85 percent of all expenditures on new business jets in the next five years, according to a forecast by Honeywell International Inc.

The Honeywell business aviation outlook is forecasting up to 8,300 new business jet deliveries worth $249 billion from 2017 to 2027, down 2 to 3 percentage points from its 10-year forecast in 2016.

Reporting by Allison Lampert; Editing by Lisa Shumaker