Someone Is Getting A Heck Of A Commission Check...

NetJets Inc. is bolstering its worldwide operations by signing a contract with Raytheon Aircraft Company for 20 Hawker 800XP mid-size business jets and 20 Hawker 400XP light business jets.

Total value of the contract will exceed $300 million. The Hawker 400XPs and 800XPs will be based in Europe and the United States. The 40 aircraft will be delivered in the 2005-07 timeframe.

“This agreement recognizes that the growing NetJet worldwide customer base prefers roomy cabin interiors offered by both the Hawker 400XP and Hawker 800XP,” said Jim Schuster, Chairman and CEO of Raytheon Aircraft. “It’s also a reflection of our efforts over the last several years to build perfect aircraft and improve customer service and support to world-class status.”

“Raytheon’s commitment to customer service and quality aircraft were key factors in our decision,” said NetJets Chairman Richard Santulli. “NetJets guarantees aircraft availability 24 hours a day, 365 days a year, and we need a superb service organization to back us up.”

This most recent agreement follows a series of transactions between Raytheon Aircraft and NetJets starting late last year. They are:

• December 2003 – NetJets orders 50 new Hawker 400XPs and eight Hawker 800XPs. The order establishes the Hawker 400XP as NetJets’ primary entry-level fractional aircraft ownership offering.
• February 2004 – Raytheon Aircraft and NetJets sign a 10-year maintenance contract with additional options for Hawker 1000, Hawker 800XP and Hawker 400XP business jets in the NetJets fleet.
• February 2004 – NetJets orders an additional two Hawker 800XPs.

Total value of all transactions is approximately $1 billion.

The Hawker 400XP and its predecessor, the Beechjet 400A, is the most popular light jet in fractional service. The Hawker 400XP was introduced in May 2003 at the European Business Aviation Convention and Exhibition. The Hawker 400XP (eXtra Payload) features a 200-lb. gross weight increase over its predecessor, the Beechjet 400A. This gives customers additional operational capability to add another passenger, or operate with the same number of passengers and increase the fuel onboard by 200 pounds for increased range.

The Hawker 800XP is the world’s best-selling mid-size business jet. It offers the largest cabin in its class, with typical seating layouts for six to 10 passengers in a variety of configurations. The cabin provides headroom and the ability to walk around with ease during flight. The Hawker 800XP is equipped with Honeywell TFE 731-5BR turbofan engines and features Collins Pro Line 21 avionics as standard equipment.

FMI: www.raytheon.com, www.netjets.com