Cessna and Bombardier receive the largest order in private aviation history. NetJets announced it wants Cessna and Bombardier to build up to 425 new aircraft for its fleet. The transaction is valued at $9.6 billion.
NetJets will buy up to 275 Bombardier Challenger aircraft, including 100 firm orders and options for 175 more. The order comprises 75 firm and 125 options of the Challenger 300 Series aircraft. Deliveries for this aircraft are scheduled to begin in 2014. The order also includes 25 firm and 50 options of the Challenger 605 Series aircraft, with deliveries scheduled to begin in 2015.
NetJets will also purchase up to 150 Cessna Citation Latitudes, including 25 firm orders and options for 125 more, with deliveries beginning in 2016.
"This purchase demonstrates our long-term planning and represents our ongoing commitment to providing unparalleled safety and service in aircraft uniquely customized for our owners," said NetJets Chairman and CEO Jordan Hansell.
"Beyond the size of this order, what makes the new NetJets Signature Series special are the latest in aircraft technology and in-cabin comfort features we will deliver for our owners. By increasing the range and endurance of our fleet, we will allow our owners to get to even more destinations worldwide. We are confident that NetJets' market leadership and strong foundation position us to make long-term investments in our business to differentiate our fleet in ways that no one else in the industry can."
According to the press release, NetJets, a Berkshire Hathaway(R) company, is the worldwide leader in private aviation with the largest and most diverse private jet fleet in the world. NetJets began in 1964 as the first aircraft charter and management company in the world. In 1986, NetJets pioneered the concept of fractional aircraft ownership -- offering individuals and businesses all of the benefits of whole aircraft ownership and more, at a fraction of the cost.