CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. NetJets Announces Record-Breaking Aircraft Order

NetJets Announces Record-Breaking Aircraft Order

by Mike Godfrey, Tax-News.com, Washington

13 June 2012


Private aviation market leader NetJets has announced new purchase agreements with Cessna and Bombardier to acquire up to 425 new aircraft, at a cost of up to USD9.6bn - the largest aircraft purchase in private aviation history.

In announcing the additions to NetJets' worldwide fleet, NetJets Chairman and Chief Executive Officer (CEO), Jordan Hansell, said: “This purchase demonstrates our long-term planning and represents our ongoing commitment to providing unparalleled safety and service in aircraft uniquely customized for our owners.”

The purchases are as part of a new offering from NetJets - the Signature Series, which will offer fractional ownership in the latest private aviation aircraft. The Signature Series planes are the first aircraft that NetJets has helped design from start to finish, and will expand on the company's offerings in the North American and European region.

Under the purchase agreement with Bombardier, NetJets has agreed to purchase up to 275 Bombardier Challenger aircraft, including 100 firm orders and options for 175 more. The order comprises 75 firm and 125 options of the Challenger 300 Series aircraft; and 25 firm and 50 options of the Challenger 605 aircraft. Deliveries of the two aircraft are expected in 2014 and 2015, respectively.

The second agreement with Cessna is for 25 firm orders of Cessna Citation Latitudes, and options to purchase 125 more, with delivery expected at the beginning of 2016.

Hansell added: “Beyond the size of this order, what makes the new NetJets Signature Series special are the latest in aircraft technology and in-cabin comfort features we will deliver for our owners. By increasing the range and endurance of our fleet, we will allow our owners to get to even more destinations worldwide. We are confident that NetJets’ market leadership and strong foundation position us to make long-term investments in our business to differentiate our fleet in ways that no one else in the industry can.”

“These new planes will further set NetJets’ service experience apart from all others," Hansall continued. "We listened to our owners and developed the design specifications of these aircraft to ensure that our fleet meets their exacting needs. The NetJets Signature Series planes will offer our owners, whether flying for business or leisure, a seamless transition from the ground to the sky, coupled with the safety and service experience they expect from us.”

Welcoming the conclusion of the agreement, Steve Ridolfi, the President of Bombardier Business Aircraft, said: “We are very proud that, once again, NetJets has selected Bombardier aircraft to grow and support the expansion of its fleet worldwide. Our Challenger 300 Series and Challenger 605 jets are worldwide leaders in their respective segments. These aircraft are renowned for their reliability, performance and wide cabin comfort. We are convinced that the Challenger jets will complement NetJets’ existing fleet perfectly. After selecting our Global aircraft last year, this new order is a fantastic endorsement of Bombardier’s large cabin product portfolio.”

On behalf of Cessna, Scott Ernest, President and CEO, added: “We are very excited to enhance our long standing relationship with NetJets by producing the Citation Latitude for them and their customers. The Latitude is a game-changer, not only for the Cessna line of products, but for the industry. It will provide sophistication, modern technology and a whole new level of cabin comfort and style. This airplane will prove each and every time why it’s a standout member of the Cessna family and the entire industry.”

TAGS: aviation

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »