Embraer and NetJets, Inc. signed a deal for up to 100 additional Embraer Phenom 300E aircraft, with a total price of more than $1.2 billion. These aircraft are in addition to the 2010 deal between the parties for 50 Phenom 300s plus up to 75 options.
Originally incorporated in 1964, NetJets was the first major fractional ownership player in business aviation and is owned by Berkshire Hathaway. The company has for major units, NetJets, Executive Jet Management, QS Partners, and QS security and offers travel solutions customized to each Owner’s needs. NetJets has the largest and most diverse private jet fleet in the world.
The new order also includes a comprehensive services agreement, which will utilize Embraer’s customer support network. Doug Henneberry, Executive VP of Aircraft Asset Management at NetJets stated “for years, the Embraer Phenom 300 has been an integral part of the NetJets fleet. With this order for the Phenom 300E, we continue to provide our Owners with the exceptional travel experiences they have come to expect, as well as continue our significant partnership with Embraer.”
“We are pleased to have signed this significant deal with NetJets, as our strategic partnership has been an integral part of Embraer’s success for over a decade,” said Michael Amalfitano, President & CEO of Embraer Executive Jets. “Net Jets is recognized worldwide for the excellence of its operations and for providing an outstanding customer experience, so this continuing deal is an endorsement to the quality of our product and standards in performance, technology, comfort, and support. Embraer and NetJets share the same vision for business aviation, marketing the Phenom 300 series – the best selling light jet for nine years in a row – an excellent choice.”
This large order should continue the Phenom 300E market leadership for several years to come, with deliveries for the NetJets follow-on order beginning in 2023.