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, which is in Berkshire Hathaway's portfolio, has commanded a record number of private-jet aircraft, anticipating that the US economy and developed economies in Europe will eventually "return to a much stronger position," Bloomberg reports.
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.