ERJ - Embraer shares surge on announcing deal with NetJets in excess of $5B for up to 250 Praetor 500 jets
2023-05-12 03:21:59 ET
- NetJets has signed a new deal with Embraer ( NYSE: ERJ ) for up to 250 Praetor 500 jet options, which includes a comprehensive services and support agreement.
- The deal is valued in excess of $5 billion, with deliveries expected to begin in 2025, and will be NetJets' first time offering the midsize Praetor 500 to customers.
- The new agreement signifies NetJets commitment to creating an enhanced customer experience and trust in Embraer's industry-leading portfolio and customer support.
- With a partnership spanning more than a decade, NetJets has taken delivery of nearly 120 total aircraft since it first signed an order with Embraer in 2010.
- Shares of ERJ are up 5.54% after-hours on Thursday.
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Embraer shares surge on announcing deal with NetJets in excess of $5B for up to 250 Praetor 500 jets