NetJets places largest private aviation order in history

Berkshire Hathaway company NetJets says it will add up to 425 new Bombardier and Cessna aircraft to its worldwide fleet; transaction has a total value of $9.6 billion.

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In the largest aircraft purchase in private aviation history, NetJets Inc. (Columbus, Ohio, USA), a Berkshire Hathaway company, announced on June 11 that it will add up to 425 new aircraft to its worldwide fleet under purchase agreements with Cessna and Bombardier. The transaction has a total value of $9.6 billion and launches the new NetJets Signature Series of aircraft.

“This purchase demonstrates our long-term planning and represents our ongoing commitment to providing unparalleled safety and service in aircraft uniquely customized for our owners,” says NetJets chairman and CEO Jordan Hansell. “Beyond the size of this order, what makes the new NetJets Signature Series special are the latest in aircraft technology and in-cabin comfort features we will deliver for our owners. By increasing the range and endurance of our fleet, we will allow our owners to get to even more destinations worldwide. We are confident that NetJets’ market leadership and strong foundation position us to make long-term investments in our business to differentiate our fleet in ways that no one else in the industry can.

The details of the order include:

  • Up to 275 Bombardier Challenger aircraft, including 100 firm orders and options for 175 more. The order comprises 75 firm and 125 options of the Challenger 300 Series aircraft. Deliveries for this aircraft are scheduled to begin in 2014. The order also includes 25 firm and 50 options of the Challenger 605 aircraft, with deliveries scheduled to begin in 2015.
  • • Up to 150 Cessna Citation Latitudes, including 25 firm orders and options for 125 more, with deliveries beginning in 2016.

The addition of these new midsize cabin aircraft, along with the recently-ordered Embraer Phenoms and Bombardier Globals, marks the launch of a new NetJets Signature Series of aircraft as part of NetJets’ 10-year business plan, which includes continuous renewal of its current fleet of more than 725 aircraft.

The Signature Series planes are the first aircraft that NetJets helped design from start to finish. These aircraft are bigger, faster, quieter and offer longer range than similar aircraft of the previous generation. The purchases will provide options to expand the capabilities of NetJets’ North American and European fleets. These aircraft will deliver technological features to ensure maximum safety, reliability and owner comfort, including advanced in-flight entertainment systems, quiet cabins, and customized seating, lighting and storage features.