Berkshire’s NetJets to Buy Up to 125 Embraer Planes

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.

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