Brazil's Embraer agrees $5b plane sales deal with Berkshire Hathaway's NetJets

Brazilian planemaker Embraer said Thursday it will sell up to 250 units of its Praetor 500 aircraft to Berkshire Hathaway's NetJets Inc in a deal valued at $5b, via an agreed options plan. Netjets, a US company that offers shared ownership of private business jets, will start receiving the aircrafts in 2025, Embraer said in a securities filing. The sale marks the third deal between the two firms, but is the first time Netjets will offer this specific aircraft, a midsize business jet, to its clients. Previously, Netjets had acquired Embraer's Phenom 300 jets. The deal also includes a broad service contract, according to Embraer.<br/>