Sun, Jun 22, 2008
Operator Signs $1.9B Agreement With Gulfstream for Forty Plane
NetJets Inc., a Berkshire Hathaway company, announced Friday it
will significantly expand its fleet of large-cabin Gulfstream G450s
and Gulfstream G550s. In a new agreement signed with Gulfstream
valued at $1.9 billion, NetJets will acquire a total of 40 new
Gulfstream aircraft - four Gulfstream G450s and four Gulfstream
G550s to be delivered each year from 2012 through 2016. This deal
also includes a long-term maintenance support agreement.
“NetJets and Gulfstream have been strong and successful
partners for more than a decade and this agreement represents a
strategic investment in our future,” said Richard T.
Santulli, chairman and CEO, NetJets Inc. “We took our first
large cabin Gulfstream IV-SP in 1995 and our first Gulfstream V in
2000. These aircraft offer NetJets Owners premiere large-cabin
amenities and the flexibility of intercontinental range. Gulfstream
products provide our pilots and flight attendants with the best in
next-generation technology and their service teams ensure we meet
the high standards of performance and reliability NetJets Owners
The new contract reinforces the strong relationship between
NetJets and Gulfstream, demonstrating NetJets’ continued
support of Gulfstream’s aviation products and service
programs. The deal also includes more than $250 million in
maintenance support. Under its current agreement with Gulfstream,
signed in 2006, NetJets receives four Gulfstream 450s and four
Gulfstream 550s each year through 2011.
“This contract recognizes the continued success of
Gulfstream aircraft in the NetJets fractional ownership program and
the strong partnership between the two companies,” said Joe
Lombardo, president, Gulfstream Aerospace.
NetJets has over 90% of the long-range cabin fractional market
and is the largest operator of Gulfstream aircraft in the world. As
of June 2008, NetJets’ worldwide Gulfstream fleet totals 110
and is comprised of 21 Gulfstream G550/V, 55 Gulfstream
G450/400/IV-SP and 34 Gulfstream G200s.
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