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NetJets Orders 425 Jets, "Largest Order In History"

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NetJets on Monday said it has ordered up to 425 midsize business jets from Cessna and Bombardier, a deal worth up to $9.6 billion, which the company said is the "largest private aviation order in history." The deal includes firm orders for 100 jets from Bombardier -- 75 of the Challenger 300 model and 25 Challenger 605 jets -- and 25 Citation Latitudes from Cessna. NetJets also optioned another 125 each of the Challenger 300 and Latitude jets, plus 50 options for the Challenger 605. The order expands NetJets' own "Signature Series" line of aircraft, which the company helped to design.

"These aircraft are bigger, faster, quieter and offer longer range than similar aircraft of the previous generation," NetJets said in a news release. "We listened to our owners and developed the design specifications of these aircraft to ensure that our fleet meets their exacting needs." The airplanes will be deployed in NetJets' fleets in North America and Europe. Deliveries are set to take place over 10 years, starting in 2014 for the Bombardier jets and 2016 for the Cessna Latitudes.

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