Textron, NetJets in Deal for Option to Purchase Cessna Citation Aircraft
October 15 2018 - 7:54AM
Dow Jones News
By Michael Dabaie
Textron Inc.'s (TXT) Textron Aviation said Monday it is in fleet
agreements giving Berkshire Hathaway's (BRKA) NetJets Inc. the
option to purchase up to 175 super-midsize Cessna Citation
Longitude aircraft and up to 150 Cessna Citation Hemisphere
aircraft.
The agreement would increase NetJets' Cessna Citation fleet to
more than 800 aircraft over the next 10 to 15 years. The option to
purchase the Hemisphere makes NetJets the launch customer for
Textron's large-cabin aircraft.
NetJets has the option to take first deliveries of the Citation
Longitude in the second half of 2019, with additional options on
Longitude aircraft exercised over the following 10 to 15 years.
NetJets operates a fleet of 75 Citation Latitudes and expects to
have 100 in service by mid 2019.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 15, 2018 08:39 ET (12:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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