PRESS RELEASE
NetJets Inc. Places $360 million Order for 50 Hawker 400XPs and 8 Hawker 800XPs
NetJets Inc. Places $360 million Order for 50 Hawker 400XPs and 8 Hawker 800XPs
Woodbridge, NJ. (December 18, 2003) – NetJets® Inc. has placed an order for 50 new Hawker 400XP light jets and eight Hawker 800XP mid-size jets from Raytheon Aircraft Company with a total value in excess of $360 million. 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 to more than $600 million. In addition, discussion is underway on a long-term maintenance agreement which will be finalized by the end of 2003, that includes the existing Hawker 800XP and Hawker 1000 business jets in the NetJets fleet of fractionally owned aircraft.
As a result of this order the Hawker 400XP will become NetJets’ new entry-level fractional aircraft ownership offering. The eight Hawker 800XPs will join the 75 Hawker 800XPs and Hawker 1000s already in NetJets fractional aircraft ownership program. Deliveries of the Hawker 400XP will begin in 2004 and continue through 2009. The Hawker 800XPs will be delivered beginning December 2003 and through 2005.
“At NetJets we have the freedom to choose what we consider to be the best light, midsize and large cabin aircraft in the world,” said Richard Santulli, Chairman and CEO of NetJets. “The Hawker 400XP provides us with an ideal entry level light size business jet. Its performance, interior and range make the Hawker 400XP another example of NetJet’s strategy to continually offer NetJets owners the best aircraft to fulfill their business and personal travel needs.”
In 2003, NetJets will fly more than 250,000 flights to over 140 different countries. Always an innovator, NetJets continues to provide a varied array of offerings for its customers. In 2002, the Marquis Jet Card program was launched to offer access to the NetJets fleet through a short-term prepaid lease. NetJets is also the worldwide leader in on-demand charter and aircraft management services through its subsidiary Executive Jet® Management that manages over 100 aircraft for businesses and individuals who would rather own their own private business jets.
In addition, in an Aviation Research Group US Inc. (ARG/US) 2003 study, NetJets received the highest rating of all fractional aircraft ownership programs. It ranked highest on 28 of 30 comparative criteria, further testimony to the quality of the NetJets product and the long term investment of Richard Santulli and Warren Buffett, chairman and CEO of Berkshire Hathaway Company, who acquired NetJets in 1998.
NetJets® Inc., a Berkshire Hathaway Inc. company, provides the safest and most secure private aviation travel solutions in the world. NetJets® fractional aircraft ownership allows individuals and companies to buy a piece of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours notice. The NetJets fleet is the largest and most diversified and includes 13 of the most popular business jets. Access to the NetJets fleet is also available in the form of an innovative short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
The order includes an option for an additional 50 Hawker 400XP aircraft bringing the total potential value to more than $600 million. In addition, discussion is underway on a long-term maintenance agreement which will be finalized by the end of 2003, that includes the existing Hawker 800XP and Hawker 1000 business jets in the NetJets fleet of fractionally owned aircraft.
As a result of this order the Hawker 400XP will become NetJets’ new entry-level fractional aircraft ownership offering. The eight Hawker 800XPs will join the 75 Hawker 800XPs and Hawker 1000s already in NetJets fractional aircraft ownership program. Deliveries of the Hawker 400XP will begin in 2004 and continue through 2009. The Hawker 800XPs will be delivered beginning December 2003 and through 2005.
“At NetJets we have the freedom to choose what we consider to be the best light, midsize and large cabin aircraft in the world,” said Richard Santulli, Chairman and CEO of NetJets. “The Hawker 400XP provides us with an ideal entry level light size business jet. Its performance, interior and range make the Hawker 400XP another example of NetJet’s strategy to continually offer NetJets owners the best aircraft to fulfill their business and personal travel needs.”
In 2003, NetJets will fly more than 250,000 flights to over 140 different countries. Always an innovator, NetJets continues to provide a varied array of offerings for its customers. In 2002, the Marquis Jet Card program was launched to offer access to the NetJets fleet through a short-term prepaid lease. NetJets is also the worldwide leader in on-demand charter and aircraft management services through its subsidiary Executive Jet® Management that manages over 100 aircraft for businesses and individuals who would rather own their own private business jets.
In addition, in an Aviation Research Group US Inc. (ARG/US) 2003 study, NetJets received the highest rating of all fractional aircraft ownership programs. It ranked highest on 28 of 30 comparative criteria, further testimony to the quality of the NetJets product and the long term investment of Richard Santulli and Warren Buffett, chairman and CEO of Berkshire Hathaway Company, who acquired NetJets in 1998.
NetJets® Inc., a Berkshire Hathaway Inc. company, provides the safest and most secure private aviation travel solutions in the world. NetJets® fractional aircraft ownership allows individuals and companies to buy a piece of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours notice. The NetJets fleet is the largest and most diversified and includes 13 of the most popular business jets. Access to the NetJets fleet is also available in the form of an innovative short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
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