Netjets to acquire 1,500 Cessna Citation aircraft after Textron deal

COLUMBUS, Ohio: This week, Textron Aviation and NetJets signed an agreement allowing the latter to buy up to 1,500 additional Cessna Citation business jets over 15 years.

NetJets is a private jet firm owned by Warren Buffet's Berkshire Hathaway.

Analysts at Jefferies said that the deal for Cessna Citation business jets, designed, produced, and delivered by Textron, could be valued at some US$30 billion.

The deal extends NetJets' existing fleet agreement and includes options for more aircraft annually, enabling it to expand its fleet with Cessna Citation Ascend, Citation Latitude, and Citation Longitude aircraft.

Deliveries of the Citation Ascend are expected to begin when the aircraft is scheduled to enter service in 2025.