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