NetJets announced a deal with Embraer to acquire options for up to 250 Praetor 500 jet aircraft, including an agreement for services and support. The companies valued the transaction at more than $5 billion and expect to begin deliveries in 2025.
NetJets said the agreement will help it provide “an enhanced customer experience” as it conducts an average of 1,200 flights per day worldwide.
READ MORE: NetJets Orders 100 More Phenom 300s from Embraer
The companies’ relationship dates back to at least 2010, when NetJets entered its first purchase agreement with Embraer for 50 Phenom 300 jets with options for up to 75 additional aircraft. NetJets said the Phenom has since become one of its most requested aircraft.
In 2021, following the delivery of more than 100 aircraft to NetJets, the companies entered a continuing agreement for as many as 100 additional Phenom 300/E aircraft. The deal was valued at more than $1.2 billion.
“We are eager to add the Embraer Praetor 500, one of today’s most state-of-the-art business jets, to our midsize fleet,” said Doug Henneberry, executive vice president of NetJets’ aircraft asset management. “This historic fleet agreement is another way that we are growing our fleet for the benefit of our loyal customers. By adding up to 250 aircraft to our fleet, we will continue providing NetJets owners with exceptional service and seamless access to all corners of the globe.”
Said Michael Amalfitano, president and CEO of Embraer Executive Jets: “Since 2010, Embraer has enjoyed NetJets’ ongoing commitment to our industry-leading aircraft, which is a true testament to the value of our brand and our ability to deliver the ultimate experience in business aviation. After building this successful foundation with the Phenom 300 series, it’s our pleasure to have now signed this monumental deal for the Praetor 500 midsize jet, and we look forward to an even more exciting future ahead.”
Embraer said the Praetor 500’s speed, runway performance and range, making it capable of coast-to-coast U.S. flights, help set it apart from other jets in the midsize category. In addition to fly-by-wire controls, the Praetor 500 offers the lowest cabin altitude and the tallest, widest cabin cross-section in its class.
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