NetJets Inc., the luxury flight business owned by Warren Buffett’s Berkshire Hathaway Inc., agreed to buy as many as 125 planes from Empresa Brasileira de Aeronautica SA.
The twin-engine Phenom 300 jet has a list price of $8.4 million, according to Embraer, valuing the deal at as much $1.05 billion by that measure. NetJets didn’t disclose terms and said the jets are a Platinum Edition model designed for the company. Fleet purchases typically are at a discount to list prices.
“This is a high-performance aircraft that is ideally suited to our owners’ needs,” NetJets Chief Executive Officer David Sokol said today in a statement. NetJets said its fleet numbers more than 800 aircraft.
Messages left for comment with Columbus, Ohio-based NetJets and Embraer weren’t immediately returned. Embraer, based in Sao Jose dos Campos, Brazil, rose 1.9 percent to 11.41 reais today in Sao Paulo trading.