BAN's World GazetteerBrazil
In order to continue providing reliable global access and exceptional service to current NetJets owners and their guests, fractional operator NetJets has signed a new deal with Embraer for up to 250 Praetor 500 jet options that includes a comprehensive services and support agreement. The deal is valued in excess of $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, one of its most requested aircraft.
The partnership with Embraer 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 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 this new agreement, NetJets signifies not only its commitment to creating an enhanced customer experience as the company is averaging over 1,200 worldwide flights per day, but also its trust in Embraer's portfolio and support.
“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,” says Embraer Executive Jets president and CEO Michael Amalfitano. “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 to our midsize fleet,” adds NetJets Asset Management EVP Doug Henneberry. “This historic 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.”
The Praetor 500 is the world's most disruptive and technologically advanced midsize business jet, boasting an impressive best-in-class range, enabling US 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.