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Bombardier Lands Large NetJets Order

Third-largest maker of commercial aircraft received an order for as many as 120 aircraft from NetJets Inc. that could be worth at least $6.7 billion.

MONTREAL (AP) -- Bombardier Aerospace said it has received an order for as many as 120 aircraft from Berkshire Hathaway's NetJets Inc., in a deal that could be worth at least $6.7 billion.

Bombardier, the world's third-largest maker of commercial aircraft, said Wednesday the transaction is the largest business aircraft sale in the company's history.

Montreal-based Bombardier says NetJets has already placed a firm order for 50 Global business jets, a transaction valued at approximately $2.8 billion.

The deal also has the option for an additional 70 Global aircraft to be ordered which would bring the total value of the deal to over $6.7 billion

Shares of Bombardier jumped more than 9 percent to CA$6.70 in morning trading on the Toronto Stock Exchange.

NetJets is the world's largest business aircraft operator, with a fleet of over 800 aircraft worldwide. It is the corporate aircraft unit of Warren Buffett's Berkshire Hathaway Inc.

The company said it was impressed with Bombardier's vision for the future.

"The Global aircraft family is ideally suited to our owners' needs for range, reliability, interior comfort and operating efficiency," NetJets president Jordan Hansell said in a statement. "These aircraft will be an excellent complement to our existing large cabin capabilities and overall fleet."
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