Brazilian aircraft manufacturer Embraer, the world’s third largest aircraft builder, yesterday announced an agreement with air cab company NetJets to sell up to 250 Praetor 500 model aircraft in a deal worth more than US$5 billion.
According to Embraer, deliveries will begin in 2025, and the agreement includes service and support.
NetJets already operates Embraer’s Phenom 300 series of aircraft, and this is the first time the company will use the Praetor 500.
In a statement, the company reinforced its confidence in the most advanced products in their respective segments and Embraer’s “support of excellence”.
The Praetor 500 is a mid-size executive aircraft and, according to Embraer’s statement, is considered the aircraft with the best autonomy in its category.
The aircraft allows for non-stop, coast-to-coast flights in the United States, NetJets’ primary market.
The partnership between Embraer and NetJets began in 2010, when the operator first signed a contract to purchase 50 Phenom 300 aircraft, with up to 75 additional options.
In 2021, following the delivery of more than 100 aircraft, the companies signed a contract for up to 100 additional Phenom 300/E aircraft worth more than $1.2 billion.
Embraer is the third largest aircraft manufacturer in the world, behind Boeing and Airbus, and is a leader in the medium-haul aircraft sector.
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