Dow Jones Newswires: Embraer to sell up to 250 jets to NetJets in $5 billion deal

May 12, 2023

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.

Futurist Eric Fry says it will be a “Summer of Surge” for these three stocks

One company to replace Amazon… another to rival Tesla… and a third to upset Nvidia. These little-known stocks are poised to overtake the three reigning tech darlings in a move that could completely reorder the top dogs of the stock market. Eric Fry gives away names, tickers and full analysis in this first-ever free broadcast.

Watch now…