NetJets places $360 million jet order

NetJets has recently placed a $360 million order for 50 new Hawker 400XP light jets and eight new Hawker 800XP mid-size jets from Raytheon Aircraft Company. The aircraft will be added to the NetJets’ fractional aircraft ownership program.

The order includes an option for an additional 50 Hawker 400XP aircraft, bringing the total potential value of the contract to more than $600 million.

Discussions are also underway on a long-term maintenance agreement for this new order and NetJets’ existing Hawker 800XP and Hawker 1000 business aircraft.

Deliveries of the Hawker 400XP will begin in 2004 and continue through to2009. The Hawker 800XPs will be delivered beginning December 2003 and through 2005.