Sat, May 13, 2023
Mondo Sale Will Expand NetJets Fleet by 250 Praetor 500s
One can only imagine the hi-fives around Embraer when word came in that the company has sold $5 billion in Praetor 500s to longtime customer NetJets Aviation.
The sale will provide 250 of the aircraft, which will join the NetJets fleet of similar Embraer models like the midsize Praetor 500 and older Phenom 300. The operator has continued to wax in popularity since the 2020 travel shakeup, when restrictive airline and airport conditions chased well-heeled clientele right into the arms of fractional jet and charter operators around the world. NetJets has kept up an impressive pace in expanding its fleet since then - to the point that it says “the only limits to our fleet growth are how many aircraft our partners Bombardier, Embraer, and Textron can build and how many they can allow us to purchase.” Just counting recent orders, the firm expects to end this year with a fleet 25% larger than it was in 2022.
“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.”
“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. “This historic fleet 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.”
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