NetJets Inks Massive $9.6 Billion Bizjet Deal

Stephen Pope

Tuesday, June 12, 2012 at 10:36 PM ET

Verified

A NetJets Cessna Citation Latitude [Credit: NetJets]

Key Takeaways:

NetJets announced the largest private aircraft purchase in aviation history, ordering up to 425 new business jets from Cessna and Bombardier worth $9.6 billion.
These new aircraft will form the foundation of the company's "NetJets Signature Series" fractional ownership program, with deliveries scheduled to begin in 2014.
The order includes up to 150 Cessna Citation Latitudes and up to 275 Bombardier Challenger series jets, designed to offer enhanced technology, comfort, and extended range for owners.

See a mistake? Contact us.

NetJets on Monday announced orders with Cessna and Bombardier for up to 425 new business jets worth $9.6 billion that will form the cornerstone of the private aviation giant’s new NetJets Signature Series fractional ownership program. NetJets called the purchases the largest deal for private aircraft in aviation history.

The Ohio-based fractional ownership firm said it will buy up to 150 Cessna Citation Latitudes in a deal that includes 25 firm orders and options for 125 more. The Latitude deal is valued at $2.3 billion at list prices. Deliveries are to begin in 2016 and stretch over 10 years.