NetJets to buy Bombardier, Cessna planes worth $9.6 bln

NetJets, a private jet-sharing company owned by Warren Buffett's Berkshire Hathaway Inc, said on Monday it would buy up to 425 new business jets from Bombardier Inc and Cessna in a deal worth $9.6 billion to expand its North American and European fleet.

The purchase, which NetJets described as the largest in private aviation history, includes up to 275 Bombardier Challenger business aircraft, the second time in 15 months that NetJets has placed a large order with the Canadian planemaker.

The Bombardier (BBDb.TO) portion of the order, which is valued at $7.3 billion, is made up of 100 firm orders on two different types of Challenger jets, and options for 175 more, NetJets said. Deliveries of the different jets will start in 2014 and 2015.

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- Posted: 2012-06-12 12:15:20

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