NetJets places $360 million Hawker order

 - January 29, 2007, 5:16 AM

Fractional operator NetJets announced an order late last month for 50 Hawker 400XPs and eight midsize Hawker 800XPs, a deal valued in excess of $360 million. The order also includes an option for 50 Hawker 400XPs, bringing the total potential value to more than $600 million. In addition, discussion is under way with an undisclosed company on a long-term maintenance agreement, which was to be finalized by the end of last year. This deal is said to include the existing Hawker 800XPs and 1000s in the NetJets fleet. As a result of this aircraft order, the 400XP will become NetJets’ new entry-level fractional aircraft. Deliveries of the 400XP will begin this year and continue through 2009. Deliveries of the 800XPs started last month and will continue through 2005.