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Old 10-18-2010, 04:37 PM
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jetlag7
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Default Netjets New Aircraft Purchase Agreement

Global Private Aviation Leader NetJets® Inc. Announces Purchase Agreement for Embraer Business Aircraft | Business Wire

COLUMBUS, Ohio--(BUSINESS WIRE)--NetJets Inc., a Berkshire Hathaway company, announced today the
completion of a purchase agreement with Embraer to add up to 125
Platinum Edition Phenom 300s into the NetJets fleet. Terms of the deal
were not disclosed.


This Platinum Edition aircraft, designed exclusively for NetJets, will
feature technology and comforts based on the requirements of the NetJets
fractional share Owners. This announcement is the first step in the
execution of a 10-year fleet plan that will provide the company’s
fractional jet Owners with the fleet options, safety, service and
reliability they have come to expect from the worldwide leader in
private aviation.


Today, NetJets operates a global fleet of more than 800 aircraft,
representing 13 different fractional aircraft types from several
aircraft manufacturers including Cessna, Dassault, Gulfstream and
Hawker-Beechcraft. Since 2000, NetJets has taken delivery of more than
600 aircraft from both domestic and foreign manufacturers. Today’s
announcement regarding the NetJets light cabin fleet will be the first
of several to come in the next few years that will cover the midsize and
large cabin fleets and will be in addition to orders already on the
books to acquire more than $2.95 billion worth of aircraft.


According to Chairman and Chief Executive Officer David L. Sokol, “No
one is more confident about the future of private aviation than NetJets.
We continue to be guided by our vision to strengthen our leadership
position by delivering extraordinary safety and service to our Owners.
We are pleased to be in a strong position in our industry and proud to
be announcing this order for an exceptional aircraft that our Owners
will value for years to come.”


Owner research and a comprehensive view of flight patterns and service
requirements contributed to the decision to select the Phenom 300. In
addition, an extensive analysis was conducted at NetJets by multiple,
cross-disciplinary teams representing flight crews, maintenance, flight
operations, safety, sales, finance and owner services. “This is a high
performance aircraft that is ideally suited to our Owners’ needs for
reliability, range, interior comfort and operating efficiency,” said
David Sokol. “It will be an excellent fit in an already diverse fleet
that is unmatched in private aviation.”


Embraer President and CEO Frederico Curado added, “Embraer is indeed
pleased and honored to have been selected by NetJets, a company
recognized worldwide for the excellence of its operations and for an
outstanding customer experience, to develop and deliver the Phenom 300
Platinum Edition.”


“The bottom line is that no one knows more about the needs and
operational requirements of private aircraft Owners than NetJets,” added
David Sokol. “We are really excited about the Platinum Edition because
its customized design elements reflect our nearly 25 years of experience
in Fractional Business Jet Ownership serving the needs of thousands of
businesses and individuals that have told us exactly what they want in a
light cabin jet.”


The Phenom 300 Platinum Edition will be developed by Embraer in
cooperation with NetJets. The jets will feature technology and comforts
based on the requirements of the NetJets fractional share Owners.
Deliveries of the new aircraft are scheduled to begin in 2013 and will
be executed in accordance with ongoing fleet management plans.
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