NetJets Places Order for 50 Phenom 300s

 - October 27, 2010, 11:33 AM

Embraer announced at the NBAA Convention last month that fractional provider NetJets signed an agreement to purchase 50 Phenom 300 light jets and has an option to buy 75 more. At current list prices, the deal could be worth more than $1 billion. The aircraft, which the Brazilian ­manufacturer expects to begin delivering in 2013, will be specially equipped for the Berkshire Hathaway-owned NetJets and called Phenom 300 Platinum Edition. Embraer said it has signed “comprehensive” maintenance support agreements to provide a broad scope of logistics, material and maintenance services for the NetJets Phenom 300s in North America and Europe. Meanwhile, NetJets chairman, president and CEO David Sokol said the company is “filing for certification to create NetJets China later this year.” He also said the company is expanding in Europe.