NetJets To Purchase $2.95 Billion Worth Of Aircraft


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NetJets To Purchase $2.95 Billion Worth Of Aircraft

By Daniel Baxter

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.

This announcement 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. 

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.


This announcement 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. 

According to 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 jet.” 

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. 

NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 13 of the most popular business jets in the world.


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