NetJets signed a new deal with Embraer for up to 250 Praetor 500 jets, with the dealing including a services and support agreement. The deal is valued in excess of $5 billion, with deliveries expected to begin in 2025, and will allow NetJets to offer the midsize Praetor 500 to customers for the first time. For more than a decade, NetJets has operated Embraer’s Phenom 300 series.
The partnership between Embraer and NetJets began in 2010 when NetJets first signed a purchase agreement for 50 Phenom 300 aircraft with up to 75 additional options. In 2021, after Embraer delivered more than 100 aircraft to NetJets, the companies signed a continuing deal for up to 100 additional Phenom 300/E jets, with the deal value in excess of $1.2 billion.
“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,” Michael Amalfitano, president and CEO of executive jets at Embraer, said. “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,” Doug Henneberry, executive vice president of aircraft asset management at NetJets, said. “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.”
