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October 20, 2010

NetJets Signs Order For Up To 125 New Embraer Aircraft

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Brazil’s Embraer on Monday announced it had signed an agreement to sell up to 125 aircraft with a total value of $1 billion to NetJets, the fractional jet ownership company owned by Warren Buffet’s Berkshire Hathaway.

Embraer said the Phenom 300 Platinum Edition will be developed by Embraer in cooperation with NetJets. “The jet will feature technology and comfort based on the requirements of NetJets’ fractional share owners,” the company said.

The Phenom 300 will join NetJets’ existing worldwide fleet of over 800 light, midsize, and large-cabin aircraft. In conjunction with the sale, NetJets and Embraer have signed comprehensive maintenance support agreements.

Deliveries of the new aircraft are scheduled to begin in 2013.

The Phenom 300 can reach 521 mph (839 km/h, or 453 knots), and it can fly at an altitude of up to 45,000 feet (13,716 meters).

Its range of 1,971 nautical miles (3,650 km), including NBAA IFR fuel reserves, means the aircraft is capable of flying nonstop from New York to Dallas, in the U.S.; from London to Athens, in Europe; or from Delhi to Dubai, in Asia.

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