Netjets signs a purchase agreement for up to 125 Embraer Phenom 300 aircraft
Deal may exceed US$ 1 billion
São José dos Campos, October 2010 – Embraer and NetJets, Inc., have signed a Purchase Agreement for 50 Phenom 300 executive jets, plus 75 options. The total value of the deal may exceed US$ 1 billion, at current list price.
“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,” says Frederico Fleury Curado, Embraer President and CEO. “This new partnership is both a gratifying achievement for Embraer and a strong endorsement of our executive jets business. We share NetJets’ vision for the promising future of executive aviation and see the Phenom 300 in a strong position to meet the increasingly demanding requirements for comfort, economics, performance, and reliability.”
The Phenom 300 Platinum Edition will be developed by Embraer in cooperation with NetJets, the pioneer and world leader in business jet fractional ownership. The jet will feature technology and comfort based on the requirements of NetJets’ fractional share Owners.
Deliveries of the new aircraft are scheduled to begin in 2013.
“NetJets is making an investment in the future, and we continue to be guided by our vision to maintain our leadership position by delivering extraordinary safety and service to our Owners,” says David L. Sokol, NetJets’ Chairman and CEO. “We are pleased to be in a strong position in our industry and proud to be announcing this order with Embraer for the Platinum Edition Phenom 300, a high performance aircraft that is ideally suited to our Owners’ needs for reliability, range, interior comfort and operating efficiency.”
This sale further establishes the success and acceptance of the Phenom 300 in the executive aviation market. The Phenom 300 jets will join NetJets’ existing worldwide fleet of over 800 light, midsize, and large-cabin aircraft. In conjunction with the sale, NetJets and Embraer have signed comprehensive maintenance support agreements providing a broad scope of logistics, material and maintenance services for the new fleet in both the North American and European markets.
“On behalf of our entire Embraer team, I would like to thank NetJets for the confidence they have expressed in our ability to provide the high levels of service and support their business demands,” says Luís Carlos Affonso, Embraer Executive Vice President, Executive Jets. “We look forward to building a long-term relationship with this market leading customer.”
Additional details of the transaction and undisclosed contractual conditions, which are not available for release at this time, are to be met by January 2011, when the order will be added to the Company’s backlog.
About NetJets, Inc.
NetJets, Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation, and provides the safest and most secure private aviation solutions. 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. NetJets worldwide programs offer the largest and most diversified fleet in private aviation, which includes 13 of the most popular business jets in the world. More information is available at www.netjets.com.
“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,” says Frederico Fleury Curado, Embraer President and CEO. “This new partnership is both a gratifying achievement for Embraer and a strong endorsement of our executive jets business. We share NetJets’ vision for the promising future of executive aviation and see the Phenom 300 in a strong position to meet the increasingly demanding requirements for comfort, economics, performance, and reliability.”
The Phenom 300 Platinum Edition will be developed by Embraer in cooperation with NetJets, the pioneer and world leader in business jet fractional ownership. The jet will feature technology and comfort based on the requirements of NetJets’ fractional share Owners.
Deliveries of the new aircraft are scheduled to begin in 2013.
“NetJets is making an investment in the future, and we continue to be guided by our vision to maintain our leadership position by delivering extraordinary safety and service to our Owners,” says David L. Sokol, NetJets’ Chairman and CEO. “We are pleased to be in a strong position in our industry and proud to be announcing this order with Embraer for the Platinum Edition Phenom 300, a high performance aircraft that is ideally suited to our Owners’ needs for reliability, range, interior comfort and operating efficiency.”
This sale further establishes the success and acceptance of the Phenom 300 in the executive aviation market. The Phenom 300 jets will join NetJets’ existing worldwide fleet of over 800 light, midsize, and large-cabin aircraft. In conjunction with the sale, NetJets and Embraer have signed comprehensive maintenance support agreements providing a broad scope of logistics, material and maintenance services for the new fleet in both the North American and European markets.
“On behalf of our entire Embraer team, I would like to thank NetJets for the confidence they have expressed in our ability to provide the high levels of service and support their business demands,” says Luís Carlos Affonso, Embraer Executive Vice President, Executive Jets. “We look forward to building a long-term relationship with this market leading customer.”
Additional details of the transaction and undisclosed contractual conditions, which are not available for release at this time, are to be met by January 2011, when the order will be added to the Company’s backlog.
About NetJets, Inc.
NetJets, Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation, and provides the safest and most secure private aviation solutions. 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. NetJets worldwide programs offer the largest and most diversified fleet in private aviation, which includes 13 of the most popular business jets in the world. More information is available at www.netjets.com.
Source: EMBRAER
