NetJets agreed to purchase up to 1.5 thousand Cessna Citation for $30 billion – Kommersant
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Today, September 20, the American company NetJets, an operator of private jets that provides the opportunity for shared ownership,— agreed with aircraft manufacturer Textron Aviation about an option to purchase 1.5 thousand Cessna Citation business jets. The term of the agreement is 15 years. The deal amount was not disclosed, but Jefferies analysts estimate that if NetJets ultimately buys all of these aircraft, it could be worth $30 billion. Deliveries of the aircraft are expected to begin in 2025.
NetJets, owned by billionaire Warren Buffett’s Berkshire Hathaway investment company, is the largest business jet operator in the world. Its fleet includes more than 900 aircraft. In May, NetJets agreed with Brazil’s Embraer to purchase 250 Praetor 500 aircraft, their total cost is estimated at $5 billion.
The business aviation market experienced a surge in popularity with the onset of the pandemic, when various restrictions were in place and the number of commercial flights fell sharply. However, how testify reports, it continued to grow last year when most restrictions were lifted.
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