Brazilian planemaker Embraer SA will sell up to 250 units of its Praetor 500 aircraft to Berkshire Hathaway’s NetJets Inc in a deal valued at $5 billion, via an agreed options plan, Report informs referring to Reuters.
Netjets, a US company that offers shared ownership of private business jets, will start receiving the aircraft in 2025, Embraer said in a securities filing.
The sale marks the third deal between the two firms, but is the first time Netjets will offer this specific aircraft, a midsize business jet, to its clients. Previously, Netjets had acquired Embraer’s Phenom 300 jets.
The deal also includes a broad service contract, according to Embraer.