NetJets to spend billions on new bizjets

Fractional-ownership leader NetJets is placing a big bet on the longer term future of the U.S. and European economies with huge new plane orders from Cessna and Bombardier.

The Wichita Eagle reports that NetJets deals amount to the "largest private aviation order in history: up to 425 new planes from Cessna and Bombardier valued at $9.6 billion in list prices."

NetJets, which provides fractional ownership of aircraft, said will buy up to 150 Wichita-built Cessna Citation Latitudes, including 25 firm orders and options for 125 more. The Latitude order is valued at $2.3 billion at list prices.

Deliveries are to begin in 2016 and stretch over 10 years.

NetJets also will buy up to 275 Bombardier aircraft, including 100 firm orders for Challenger 300 and 605 series airplanes, with options for... [via Sky Talk]