NetJets and Embraer announce deal for up to 250 Praetor 500s
NetJets has signed a new deal with Embraer for up to 250 Praetor 500 jets, in a deal valued in excess of $5bn.
With deliveries expected to begin in 2025, it will be NetJets’ first time offering the midsize Praetor 500. The firm has been operating Phenom 300s, one of its most popular aircraft, for over a decade. The partnership between the two companies began in 2010 when NetJets first signed a purchase agreement for 50 Phenom 300s. Also, in 2021, after Embraer successfully delivered over 100 aircraft, the pair signed a continuing deal for up to 100 additional Phenom 300/E jets, in excess of $1.2bn.
Michael Amalfitano, president and CEO of Embraer Executive Jets, said: “Since 2010, Embraer has enjoyed NetJets’ ongoing commitment to our industry-leading aircraft, which is a true testament to the value of our brand and our ability to deliver the ultimate experience in business aviation. 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. After building this successful foundation with the Phenom 300 series, it’s our pleasure to have now signed this monumental deal for the Praetor 500 midsize jet, and we look forward to an even more exciting future ahead.”
The Praetor 500 offers best-in-class range, with US coast-to-coast capability, and it’s the only aircraft in its category with full fly-by-wire flight controls. Doug Henneberry, executive vice president of NetJets Aircraft Asset Management. “We are eager to add the Embraer Praetor 500, one of today’s most state-of-the-art business jets, to our midsize fleet. This historic fleet agreement is another way that we are growing our fleet for the benefit of our loyal customers. By adding up to 250 aircraft to our fleet, we will continue providing NetJets Owners with exceptional service and seamless access to all corners of the globe.”