Fractional ownership provider Flexjet signed a memorandum of understanding today with Bombardier Business Aircraft for the purchase of 20 Challenger 350 super-midsize business jets. The $533 million deal makes the Texas-based fractional-share provider one of the largest operators of the 300-series aircraft, and it already has more than 40 in service.

The Challenger 350 is “built for optimal comfort and performance and holds a particular appeal for Flexjet customers,” according to Bombardier Business Aircraft president David Coleal. “The aircraft can carry eight passengers 3,200 nautical miles with a non-stop cruise speed of Mach 0.80, and it has the fastest time-to-climb in the business, climbing straight to 43,000 feet. Along with the latest avionics, it has the widest cabin of any true, super-midsize aircraft.” He added that “the 350 has a flat floor, a stand-up cabin, lots of natural light and an HD cabin management system.”

Mike Silvestro, CEO of Flexjet, commented, “I couldn’t be more excited about this announcement. Flexjet first took delivery of its first Challenger 300 in 2003, and since then it has been the mainstay of our fleet. Back then I think Bombardier did a phenomenal job creating this great super-midsize cabin aircraft, and many years later with the Challenger 350 they have continued to define and set the standard for excellence for this category.”

The Flexjet Challenger 350s will become a part of FlexJet’s new Red Label offering, “which enhances the experience for our customers,” explained Silvestro. These aircraft “will have dedicated crews who fly specific N-number aircraft and special LXI phenomenal interiors [including hand-stitched leather seating]. And we are committed to using only aircraft that are five years old or younger,” he added.