Embraer will hike the price on its Phenom 300 jet three percent beginning next month, the company said during the NBAA show in Orlando.

Originally offered at $6.65 million, the price will rise by to $6.85 million, effective November 1. The original price was based on January 2005 economic conditions, says Embraer.

The 300 model has secured more than a third of the 800 orders so far for aircraft in the Phenom family. The first aircraft flew on April 29 and is currently flying in the certification and maturity campaigns. The company hopes for certification in the second half of 2009.