In Atlanta the news is coming out hot and heavy from the National Business Aviation Association and it is difficult to keep up but I wanted to make sure to report that Embraer inked a deal with NetJets. It was announced yesterday that the fractional provider NetJets has purchased 50 Phenom 300 light jets with an option to buy 75 more of the light jets. They are stating that this is a deal for more than $1 Billion in current economic numbers. The deal involves delivering the jets to NetJets beginning in 2013. The Embraer Phenom 300 is an 11 seat aircraft with a range of nearly 2000 nautical miles. NetJets already has a fleet of 13 business jets which will add the jets from Embraer.
As we begin to see more information come out of Atlanta from the National Business Aviation Association we will be reporting the news as we understand it. Congratulations to the folks at Embraer and at NetJets as they go into the new contract and of course also into the new business of climbing out of the economic slide. We look forward to 2013 and their implementation of the sale.