Largest private jet deal in history

We recently saw reported on Flight Global that fractional ownership provider NetJets has placed orders that could end up totalling $9.6 billion with Bombardier and Cessna for up to 425 new private jets.

If all options are exercised, the deal could ultimately comprise up to 275 Bombardier Challenger aircraft, and up to 150 Cessna Citation Latitudes.

The deal includes firm orders for 100 Bombardier jets, comprising 75 Challenger 300s, with deliveries to start in 2014, and 25 Challenger 605s, with deliveries to begin in 2015, said Bombardier in a statement.

The Bombardier deal includes an after market support agreement for up to 15 years, which could end up being worth $820 million. It will see Bombardier provide scheduled and unscheduled line and heavy maintenance support for NetJets’ Challenger 300 and 605 Series aircraft.

The Cessna component of the deal includes firm orders for 25 Cessna Citation Latitudes, with deliveries to commence in 2016, and options for 125 more.

NetJets added that the purchase is part of its 10-year business plan, which includes continuous renew of its 725 strong fleet of aircraft.