Brazil's Embraer announced Tuesday that it will sell 50 Phenom 100 executive jets to U.S.-based Magnum Jet for US$138 million.

Magnum Jet of Houston, Texas, also has an option to buy 50 more executive jets that could raise the value of the deal to US$275 million, Empresa Brasileira de Aeronautica SA said in a statement.

The Phenom 100 is scheduled to enter into service in mid-2008. Magnum Jet will start taking delivery of the aircraft in early 2009, Embraer said.

The announcement came a week after Embraer reached a deal to sell 100 regional jets to China's Hainan Airlines Co. for US$2.7 billion.

The contract gives Magnum Jet the option of changing its order to purchase Embraer's larger and more powerful Phenom 300 executive jets, which are expected to enter into service in mid-2009.

Embraer is the world's fourth-largest aircraft manufacturer.