Private jet service operator NetJets has signed a new deal with Embraer for up to 250 Praetor 500 jet options, which includes a comprehensive services and support agreement.
The newly minted deal is valued in excess of US $5 billion, with deliveries expected to begin in 2025, and will be NetJets’ first time offering the midsize Praetor 500 to customers.
For over a decade, NetJets has operated Embraer’s Phenom 300 series, which is traditionally one of NetJets’ most requested aircraft.
Embraer and NetJets partnership
The connection between the Brazilian aircraft manufacturer and NetJets has endured since 2010, when the operator first signed a purchase agreement for 50 Phenom 300 aircraft, with up to 75 additional options.
In 2021, after Embraer successfully delivered over 100 aircraft, the companies signed a continuing deal for up to 100 additional Phenom 300/E jets, in excess of $1.2 billion.
With the company now averaging over 1,200 worldwide flights per day, the latest bulk acquisition perhaps demonstrates the depth of loyalty from both the aircraft operator and its clientele.
“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,” said Michael Amalfitano, President and CEO of Embraer Executive Jets.
“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.”
The Praetor 500
“We are eager to add the Embraer Praetor 500, one of today’s most state-of-the-art business jets, to our midsize fleet,” said Doug Henneberry, Executive Vice President of NetJets Aircraft Asset Management.
The Praetor 500 is a technologically advanced midsize business jet, boasting an impressive best-in-class range—enabling U.S. coast-to-coast capability—industry-leading speed, and unparalleled runway performance.
In terms of technology, it’s the only aircraft in its category with full fly-by-wire flight controls.
Not only does the Praetor 500 offer exceptional performance but it also offers one of the most comfortable cabin experiences.
It features the lowest cabin altitude in its class, as well as the tallest and widest cross section in the segment.
Additionally, it offers a flat-floor cabin, stone flooring, a vacuum lavatory, and ample baggage space, including a fully enclosed internal baggage compartment.
NetJets is an international company specializing in fractional ownership and private jet travel services. With over 50 years of experience, it is considered a leader in the private aviation industry.
NetJets offers individuals and businesses the opportunity to own a share of a private jet instead of purchasing an entire aircraft.
This unique ownership model grants access to a diverse fleet of aircraft without the hassle of full ownership responsibilities.
The demand for private ad-hoc services
Perhaps one of the “new normals” which has characterised the post-Covid aviation sector is the retention of private jet travel services, despite the progressive return of scheduled commercial flights.
A couple of key factors driving this appears to be customers appetite for flexibility in terms of aircraft selection, flight times and travel arrangements.
NetJets typically provides just that, permitting clientele to schedule flights at their convenience, often with short notice, ensuring a hassle-free travel experience.
With a vast network of aircraft, NetJets operates worldwide, granting access to various destinations across the globe.