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February 21, 2024
Praetor 500
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NetJets, a Berkshire Hathaway company, that provides fractional business jet ownership signed arrangements with Embraer for up to 250 Praetor 500 jets, including a comprehensive services and support agreement. The transaction is valued in excess of $5 billion with aircraft deliveries expected to begin in 2025.

Praetor 500

The Praetor 500 is described as the most disruptive and technologically advanced midsize business jet. The aircraft boasts best in class range that enables full trans-continental flights, industry leading speed, and unparalleled runway performance. The aircraft is the only aircraft in its category with full fly-by-wire controls, and boasts the widest cross section in its class at seven feet. With a flat floor, the aircraft also has the tallest cross section among midsize jets at six feet. The 24 foot cabin length can accommodate nine seats, but most are configured for seven passengers.

The Praetor 500 is powered by two Honeywell HTF7500E engines each producing 6450 pounds of thrust. The cockpit includes side-stick controls and a modern Collins ProLine Fusion avionics suite, including synthetic vision.

NetJets is an existing Embraer customer, having previously purchased the Phenom 300 model in 2010 in an agreement covering 125 aircraft that was extended for up to 100 additional Phenom 300E jets in 2021.

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.”

The Bottom Line

This order significantly improves Embraer’s book to bill ratio and ensures a solid backlog into the next decade. This is a solid win for Embraer over competing models from Textron Aviation and Bombardier that ensures the long-term success and profitability of the Praetor family.

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President AirInsight Group LLC

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