Embraer
ERJ,
+1.25%
said Thursday that it signed a $5 billion deal to sell up to 250 of its Praetor 500 jets to the operator of private aircraft NetJets.
The deal also includes a services and support agreement, the aerospace manufacturer said, adding that deliveries are expected to begin in 2025.
For over a decade, NetJets, a unit of Berkshire Hathaway
BRK.B,
-0.11%,
has operated Embraer’s Phenom 300 series aircraft, but this would be the company’s first time offering the midsize Praetor 500 aircraft to customers.