NetJets has ordered 425 from business aircraft
In the midst of the economic crisis, some are making record purchases. Berkshire Hathaway Group, controlled by billionaire Warren Buffett, places a new bet on the revival of the private flights market, with a record order worth 9,6 billion for 425 business aircraft from Bombardier and Cessna.
Private flight operator NetJets, in Berkshire Hathaway's portfolio, has ordered a record number of aircraft for private flights, anticipating that the US economy and developed economies in Europe will "finally return to a much stronger position," according to Bloomberg.
Deliveries will begin in two years, with NetJets currently owning a fleet of over 700 aircraft. The company has obtained favorable financial conditions from aircraft manufacturers, who are in a crisis of orders.
The transaction concerns 275 Bombardier Challenger aircraft, of which 100 stands for firm order. Cessna, part of the Textron group, should deliver up to 150 Citation Latitude aircraft, of which 25 represents secure orders.
It is an ambitious and future acquisition. In civil aviation things do not happen overnight. This huge order was made, but with prospects for the future. The money will be paid, if the rule of purchase in the field is respected, on the delivery of the aircraft, so staggered as the planes will be received.