Gulfstream wins $1.5 billion order

Gulfstream Aerospace has received a $1.5 billion order from NetJets Inc. for 50 of its new Gulfstream G150 business jets.

Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics, has received an order from NetJets Inc. for its new Gulfstream G150 business jet.

The firm order for 50 aircraft plus 50 options, which also includes a multi-year product support agreement, has a potential value of $1.5 billion.

Deliveries of the Gulfstream G150 to NetJets are scheduled to commence in 2005 with the firm orders expected to continue through to 2010.

The Gulfstream G150, developed by Gulfstream and Israel Aircraft Industries, is currently under development and is scheduled to enter service in the second quarter of 2005.

Powered by two Honeywell 731 engines, the G150 will reportedly offer the best performance in its class. With a maximum range of 2,700 miles the wide-cabin, high-speed G150 will be able to fly from New York to Los Angeles non-stop in just under 6 hours, saving 1 hour and 600 pounds of fuel over its nearest competitor.