NetJets Declares $5bn Jet Order with Embraer

NetJets has moved to consolidate its position because the world’s biggest private jet operator with a multi-billion dollar deal for as much as 250 Praetor 500 midsize jets from Brazilian manufacturer Embraer.

The Praetor 500 is one in every of the industry’s leading models, traveling further (3,340 nm) and faster (Mach 0.83) than every other midsize jet. It may seat as much as eight passengers and is one of the crucial efficient jets in its class, offering an operational cost-per-hour of roughly $4,500.

It also has a class-leading cabin altitude of 5,800 ft and is the one midsize jet with complete fly-by-wire controls, making it one of the crucial comfortable and technologically-advanced jets available on the market.

With a median of 1,200 flights per day globally, NetJets is already the leading jet operator but is investing heavily in its fleet to make sure it keeps up with rising demand. There have been over 5.3m private jet flights in 2022 – essentially the most ever – and that figure is predicted to grow in 2023.

This recent deal will see NetJets increase the dimensions of its industry-leading fleet of over 900 aircraft and offer its customers a far-more advanced choice to its current hottest midsize jet, the Phenom 300E. NetJets will welcome the primary Praetor 500s to its fleet in 2025.

“We’re desirous to add the Embraer Praetor 500, one in every of today’s most state-of-the-art business jets, to our midsize fleet,” said Doug Henneberry, executive vp of NetJets Aircraft Asset Management.

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“This historic fleet agreement is one other way that we’re growing our fleet for the good thing about our loyal customers. By adding as much as 250 aircraft to our fleet, we are going to proceed providing NetJets owners with exceptional service and seamless access to all corners of the globe.”

“Since 2010, Embraer has enjoyed NetJets’ ongoing commitment to our industry-leading aircraft, which is a real testament to the worth of our brand and our ability to deliver the last word experience in business aviation,” said Michael Amalfitano, president and CEO of Embraer Executive Jets. “Our strategic partnership has been an integral a part of our business growth, with NetJets taking all aircraft delivery options which were ordered with Embraer since inception.”

The brand new deal caps an exceptionally busy yr of investment for NetJets. Last yr, the corporate broke ground on the longer term of personal air travel with a deal to purchase 150 eVTOLs (electric vertical take-off and landing) aircraft from Lilium. These zero-emission aircraft will revolutionize short-distance private flights in the longer term, effectively replacing helicopters.

The corporate has also agreed a firm order for 4 of Bombardier’s ultra-long range Global 8000 jets in a deal price $312m. The Global 8000, which has an inventory price of $78m, shall be the fastest and longest range business jet when it comes into service in 2025.