The highly anticipated Embraer Legacy 450, the $16.5 million light-midsize jet that the Brazilian manufacturer unveiled in 2007, recently completed its inaugural flight. The flight lasted just one hour and thirty-five minutes, but it is the aircraft’s first operation milestone toward certification and entry into service, which are expected for late this year and late next year, respectively. This flight follows the November 2012 first flight of the midsize Legacy 500 ($19.9 million), which Embraer expects to b…