Embraer ERJ, +1.25% said Thursday that it signed a $5 billion deal to sell up to 250 of its Praetor 500 jets to the operator of private aircraft NetJets.
The deal also includes a services and support agreement, the aerospace manufacturer said, adding that deliveries are expected to begin in 2025.
For over a decade, NetJets, a unit of Berkshire Hathaway BRK.B, -0.11%, has operated Embraer’s Phenom 300 series aircraft, but this would be the company’s first time offering the midsize Praetor 500 aircraft to customers.
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