- Berkshire Hathaway Inc (NYSE: BRK-A) company NetJets has signed a new deal with Embraer SA ERJ for up to 250 Praetor 500 jet options, including comprehensive services and support agreement.
- The deal is worth more than $5 billion, with deliveries set to begin in 2025. The Praetor 500 is a technologically advanced midsize business jet.
- Embraer and NetJets' partnership began in 2010, when NetJets signed a purchase deal for 50 Phenom 300 aircraft, with up to 75 additional options.
- NetJets has taken delivery of nearly 120 total aircraft since signing an order with Embraer in 2010.
- "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," commented Michael Amalfitano, President and CEO of Embraer Executive Jets.
- Price Action: ERJ shares are trading higher by 7.07% at $14.69 premarket on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
