Brazil’s Embraer agrees $5 bln plane sales deal with Berkshire Hathaway’s NetJets

The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos12

SAO PAULO, May 11 (Reuters) – Brazilian planemaker Embraer SA (EMBR3.SA) said on Thursday it will sell up to 250 units of its Praetor 500 aircraft to Berkshire Hathaway's NetJets Inc in a deal valued at $5 billion, via an agreed options plan.

Netjets, a U.S. company that offers shared ownership of private business jets, will start receiving the aircrafts in 2025, Embraer said in a securities filing.

The sale marks the third deal between the two firms, but is the first time Netjets will offer this specific aircraft, a midsize business jet, to its clients. Previously, Netjets had acquired Embraer's Phenom 300 jets.

The deal also includes a broad service contract, according to Embraer.

  • Aerospace & DefensecategorySouthwest pilots vote to authorize strikeMay 11, 2023
  • World at WorkcategoryUnited Airlines pilot union wants to 'raise the bar' from Delta's contractMay 11, 2023
  • Aerospace & DefensecategoryPratt & Whitney says faces higher risks after Go First filed for bankruptcy5:01 AM UTC
  • article with galleryWorldcategoryLiftoff: Modi's space push for India counts on private players3:37 AM UTC


Related posts

ISS advises Shell shareholders to vote against climate activist resolution

Cynthia Danforth

Philippines energy chief: 2023 power supply conditions look ‘difficult’

Cynthia Danforth

FAA says Mexico on track to recover Category 1 aviation rating, but denies approving plan

Cynthia Danforth

Leave a Comment