NetJets has signed a new deal with Embraer for up to 250 Praetor 500 jet options, which includes a comprehensive services and support agreement.
The deal is valued in excess of US $5 billion, with deliveries expected to begin in 2025, and will be NetJets’ first time offering the midsize Praetor 500 to customers. For over a decade, NetJets has operated Embraer’s Phenom 300 series—one of NetJets’ most requested aircraft.
The partnership between Embraer and NetJets began in 2010 when NetJets first signed a purchase agreement for 50 Phenom 300 aircraft, with up to 75 additional options. In 2021, after Embraer successfully delivered over 100 aircraft, the companies signed a continuing deal for up to 100 additional Phenom 300/E jets, in excess of $1.2 billion.
“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,” said Michael Amalfitano, President and CEO of Embraer Executive Jets. “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.”
“We are eager to add the Embraer Praetor 500, one of today’s most state-of-the-art business jets, to our midsize fleet,” said Doug Henneberry, Executive Vice President of NetJets Aircraft Asset Management. “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.”
Rheinmetall House in Bristol, UK, has officially opened as the new headquarters for Vehicle Systems International (VSI), following its recent…
SIA Engineering Company Limited (SIAEC) wishes to announce that it has agreed with Pratt and Whitney (PW) to exit from…
Pratt & Whitney Canada (P&WC) has entered into a multi-year engine services agreement with Indian regional airline FLY91 for the…
Hindustan Aeronautics Limited (HAL) has successfully completed the maiden flight of the first Series Production Tejas Mk-1A light fighter (LA5033).…
Fincantieri and the Indonesian Ministry of Defence signed a 1.18-billion-euro contract for the supply of two Thaon di Revel-class Multipurpose…
UVision USA and Science Applications International Corp. (SAIC) signed a collaboration agreement to manufacture the Hero 120 Loitering Munition system…
Survitec, a provider of critical safety and survival solutions, has secured a significant contract to equip five Type 31 Frigates…
Spire Global, Inc., a provider of space-based data, analytics, and space services, has announced a deal with South Korea’s HANCOM…
Emirates has commenced its Neste fuel agreement at Amsterdam Schiphol Airport this month, with over 2 million gallons of Sustainable…
AirAsia Malaysia announced the resumption of its Kuala Lumpur-Vientiane route commencing on 2nd July 2024 on Tuesday (Mar. 26). This…
A new A321-200PF freighter joined the Royal Jordanian (RJ) fleet on March 24, bolstering its capacity to meet the cargo…
Jordan Airmotive and National Airlines have expanded their partnership with a CF6-80C2B5F engine sale. Jordan Airmotive is an engine MRO…
The Indonesian Navy (TNI-AL) commenced the steel-cutting ceremony for its inaugural Kapal Cepat Rudal (KCR / Fast Missile Boat) of…
Supernal, Hyundai Motor Group’s Advanced Air Mobility (AAM) company, has appointed David McBride as Chief Technology Officer (CTO). McBride will…
Northrop Grumman and Diehl Defence have signed a Memorandum of Understanding (MOU) formalizing their commitment to work together to support…
Collins Aerospace unveiled its Venue smart monitor at the recent Aircraft Electronics Association Convention & Trade Show's new product introduction…
Raytheon has been awarded a US$1.2 billion contract to supply Germany with Patriot air and missile defense systems. The systems…
Airbus Defence and Space has revealed its plans to acquire INFODAS, a Cologne-based company specialising in cybersecurity and IT solutions…
Boeing has announced that its current President & CEO Dave Calhoun will step down at the end of 2024; Calhoun…
VITEC, a multinational Intelligence, Surveillance, Target Acquisition and Reconnaissance (ISTAR) technology company, is set to bring its streaming technologies at…
The German Armed Forces (Bundeswehr) announced a contract awarded to Rheinmetall for the "Schwerer Waffenträger Infanterie (Heavy Weapon Carrier for…
Korean Air is set to finalize a contract with Airbus for the acquisition of 33 A350 family aircraft. The agreement…
The Indonesian Army's 13th Cavalry Battalion has officially welcomed nine Harimau tanks into its arsenal. The induction ceremony took place…
Naval Group commenced the steel-cutting ceremony for the first third-generation French SSBN (SNLE 3G) at the group’s shipyard in Cherbourg…
Vietnam's leading budget airline, Vietjet, continues its expansion into the Australian market with the introduction of a new direct flight…
MRO company AAR has signed a multi-year agreement to supply surplus material for the CFM56-5B engine to Cebu Pacific. Under…
Embraer hosted the C-390 Millennium and A-29 Super Tucano of the Brazilian Air Force (FAB) at Embraer Executive Jets' headquarters…
Terma's SCANTER 4002 radars have been selected by Belgian Defence to enhance the nation's airspace surveillance capabilities at both military…
MBDA, manufacturer of missiles and missile systems, has joined Egypt International Airshow (EIAS) as Platinum Sponsor that will take place…
Eve Air Mobility's Urban Air Traffic Management (Urban ATM) software has been named Vector. According to the company, Vector will…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.