NetJets To Purchase $2.95 Billion
Worth Of Aircraft
October 21, 2010 –
NetJets Inc., a Berkshire Hathaway company, announced today the
completion of a purchase agreement with Embraer to add up to 125
Platinum Edition Phenom 300s into the NetJets fleet. Terms of the deal
were not disclosed.
This Platinum Edition aircraft, designed exclusively for NetJets, will feature technology and comforts based on the requirements of the NetJets fractional share Owners.
is the first step in the execution of a 10-year fleet plan that will
provide the company’s fractional jet Owners with the fleet options,
safety, service and reliability they have come to expect from the
worldwide leader in private aviation.
NetJets operates a global fleet of more than 800 aircraft, representing
13 different fractional aircraft types from several aircraft
manufacturers including Cessna, Dassault, Gulfstream and
Hawker-Beechcraft. Since 2000, NetJets has taken delivery of more than
600 aircraft from both domestic and foreign manufacturers.
Today, NetJets operates a global fleet of more than 800 aircraft, representing 13 different fractional aircraft types from several aircraft manufacturers including Cessna, Dassault, Gulfstream and Hawker-Beechcraft. Since 2000, NetJets has taken delivery of more than 600 aircraft from both domestic and foreign manufacturers.
regarding the NetJets light cabin fleet will be the first of several to
come in the next few years that will cover the midsize and large cabin
fleets and will be in addition to orders already on the books to acquire
more than $2.95 billion worth of aircraft.
Chairman and Chief Executive Officer David L. Sokol, “No one is more
confident about the future of private aviation than NetJets. We continue
to be guided by our vision to strengthen our leadership position by
delivering extraordinary safety and service to our Owners. We are
pleased to be in a strong position in our industry and proud to be
announcing this order for an exceptional aircraft that our Owners will
value for years to come.”
Owner research and
a comprehensive view of flight patterns and service requirements
contributed to the decision to select the Phenom 300. In addition, an
extensive analysis was conducted at NetJets by multiple,
cross-disciplinary teams representing flight crews, maintenance, flight
operations, safety, sales, finance and owner services. “This is a high
performance aircraft that is ideally suited to our Owners’ needs for
reliability, range, interior comfort and operating efficiency,” said
David Sokol. “It will be an excellent fit in an already diverse fleet
that is unmatched in private aviation.”
Embraer President and CEO Frederico Curado added, “Embraer is indeed pleased and honored to have been selected by NetJets, a company recognized worldwide for the excellence of its operations and for an outstanding customer experience, to develop and deliver the Phenom 300 Platinum Edition.”
“The bottom line
is that no one knows more about the needs and operational requirements
of private aircraft Owners than NetJets,” added David Sokol. “We are
really excited about the Platinum Edition because its customized design
elements reflect our nearly 25 years of experience in Fractional
Business Jet Ownership serving the needs of thousands of businesses and
individuals that have told us exactly what they want in a light cabin
The Phenom 300
Platinum Edition will be developed by Embraer in cooperation with
NetJets. The jets will feature technology and comforts based on the
requirements of the NetJets fractional share Owners. Deliveries of the
new aircraft are scheduled to begin in 2013 and will be executed in
accordance with ongoing fleet management plans.
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