Business Aviation News

NetJets Orders 250 Praetor 500s

NetJets Orders 250 Praetor 500s

Berkshire Hathaway’s NetJets has inked a USD$5 billion deal with Embraer for up to 250 Praetor 500 aircraft.

The multi-billion dollar order, which comes with a comprehensive services and support agreement, will see NetJets offer the Praetor 500 for the first time beyond its midsize Citation and Challenger fleet. The company, which is averaging over 1,200 worldwide flights daily, will start taking deliveries in 2025.

The deal with Embraer comes more than a decade after NetJets placed its first order with the Brazilian airframer for up to 125 Phenom 300 light jets. To date, NetJet has taken delivery of more than 100 Phenom 300s.

“Our strategic partnership has been an integral part of our business growth, with NetJets taking all aircraft delivery options that have been ordered with Embraer since inception,” said Michael Amalfitano, President and CEO of Embraer Executive Jets.

Back in 2010, NetJets signed a purchase agreement for 50 Embraer Phenom 300 aircraft, with up to 75 additional options. In 2021, the companies signed a continuing deal worth USD$1.2 billion for up to 100 additional Phenom 300s.

The company didn’t specify whether the purchased Praetor 500 will be used for expansion purposes or fleet renewal. The average age of the fractional operator’s midsize fleet of Citation XLS and Citation Sovereign has surpassed 15 years, according to Asian Sky Group’s latest fleet data.

As the only midsize aircraft with full fly-by-wire flight controls, the Praetor 500 is powered by a pair of Honeywell HTF7500E turbofan engines. The aircraft can travel at a maximum range of 3,340 nautical miles (6,185 km).

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