Fractional Opts For More Hawker 750 & 900XP Bizjets

Raytheon Aircraft Company has signed an order with NetJets Aviation and NetJets Europe for the purchase of 48 additional Hawker aircraft for their European and U.S. operations. Combined with a NetJets order for 48 aircraft announced at NBAA in October last year, the two orders now total more than $1 billion.

Deliveries to NetJets of the Hawker 900XP under the initial order will begin in 2007 and continue through 2009. Deliveries under the new follow-on order will run from 2009 through 2012. Deliveries under NetJets' initial order for the Hawker 750 will begin in 2008 and continue through 2009, while deliveries under the new follow-on order will run from 2010 through 2011.

The Hawker 750 and Hawker 900XP were formally launched in October at NBAA. Both aircraft will be derived from the Hawker 800-series airframe. Raytheon says the 800-series aircraft are well known for their cabin, extended range, exceptional payload capabilities, reliability and comforts unique to the Hawker brand.

"This is outstanding news and a great day for the employees of Raytheon Aircraft Company," said Jim Schuster, chairman and CEO. "This additional order from NetJets highlights its confidence in the quality and performance of our products. We have clearly identified the right solution for the fractional customer in the mid-light and mid-size segments with these two new Hawker aircraft."

As ANN reported, an Onex Corporation - Goldman Sachs partnership tendered a $3.3 billion offer to purchase Raytheon's commercial aircraft division. The deal is currently under regulatory and shareholder review. Additionally, the purchasers will have to get a due diligence review of Raytheon's books before the purchase is finalized. The new company, to be called Hawker Beechcraft Corporation, could become a reality in as little as six months.

Raytheon Aircraft employs some 8,500 in Wichita and Salina, KS, Dallas, TX and Little Rock, AR. The company also has FBOs in the US, UK and Mexico.

Raytheon Company, with 2005 sales of $21.9 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, MA, Raytheon employs 80,000 people worldwide.

FMI: www.raytheonaircraft.com