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Old 10-18-2010, 05:37 PM   #1
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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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Old 10-18-2010, 06:53 PM   #2
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exciting news from Netjets...
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Old 10-19-2010, 10:32 AM   #3
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Embraer gives you a lot of bang for your buck, than say Cessna. Sure the the Citation X is fast, in fact it's the fastest jet between repair centers.
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Old 10-19-2010, 11:31 AM   #4
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Time will tell regarding this announcement. Lets just hope it's not another 'Barbie Jet' in disguise...
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Old 10-19-2010, 11:35 AM   #5
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While it is cool to see some new airplanes coming into the fleet, these will be mostly CE-560 and 400xp replacements. It is good to see the company is planning ahead, however. I presume I'll be flying one of these when I go back in 2015 (if I go back at all).

I suspect we'll see more Embraer orders in the future
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Old 10-19-2010, 03:51 PM   #6
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Quote:
Originally Posted by dudemize View Post
While it is cool to see some new airplanes coming into the fleet, these will be mostly CE-560 and 400xp replacements. It is good to see the company is planning ahead, however. I presume I'll be flying one of these when I go back in 2015 (if I go back at all).

I suspect we'll see more Embraer orders in the future

It does bode well for the future..meaning the job will eventually be there for those that want it back. (by that time I believe the airlines will be in hiring mode due to retirements and many will be trying for that. Me included)

I was 50/50 on whether DS was going to just shrink NJA down to a sellable size OR focus on replacement growth a/c..... This seems to be my answer... Hopefully by 2012 the replacement a/c will be needed as growth a/c due to an increase in owners, and not enough timke to get rid of the older a/c......
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Old 10-20-2010, 02:09 PM   #7
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Quote:
Originally Posted by dudemize View Post
While it is cool to see some new airplanes coming into the fleet, these will be mostly CE-560 and 400xp replacements. It is good to see the company is planning ahead, however. I presume I'll be flying one of these when I go back in 2015 (if I go back at all).

I suspect we'll see more Embraer orders in the future
I think we will see more Embraers in the future, specially if the owners like it... I bet Sokol is getting a heck of a deal from Embraer... when you manufacture corporate jets, you want to get on NJA's good side

From a pilot's perspective i'm not a fan of Embraer corporate jets, never have been, but after the Beech jet fiasco the Phenom starting to look pretty good
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Old 11-07-2010, 01:37 AM   #8
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I probably wont be seeing many of them here in ANC, but anything is better than the Hawker. Except maybe the 7X.
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Old 11-07-2010, 06:10 AM   #9
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Quote:
Originally Posted by UCLAbruins View Post
but after the Beech jet fiasco the Phenom starting to look pretty good
JUst curious. What was the Beech jet fiasco?
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Old 11-07-2010, 06:33 AM   #10
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Quote:
Originally Posted by iahflyr View Post
JUst curious. What was the Beech jet fiasco?
Several years ago the company got a great price on the Hawker 400 (formerly Beech jet). They could sell them at a huge profit, but the problem is that the aircraft is so severely limited in it's take-off performance that many of the flights the owners want to do can't be done and a more capable airplane has to be brought in for the flights (usually at NetJets expense). NetJets never got the exemption that allows them to turn off the anti-ice for takeoff to meet performance numbers like some other operators have. Therefore if anti-ice is required, it pretty much sits there until the wx changes. That doesn't sit so well with customers who watch every other jet take off safely enough while they are told they can't. I have no idea if the huge sales profits have so far been enough to offset the costs of other airframes doing so much of the flying for them. As time goes by, it is more and more likely that NJA is now losing money on the program unless they have been able to crank the operating and management fees up enough to cover it.
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