ATLANTA _ In a blow to Wichita, the city's biggest buyer of business jets, fractional ownership company NetJets, announced Monday that it is buying up to 125 light jets from Brazil's Embraer in a deal worth more than $1 billion.
NetJets will buy 50 Phenom 300 jets with an option for 75 more. Delivery will begin in 2013.
"We're very excited about adding the airplanes to our fleet," said NetJets chairman and CEO David Sokol.
Last December, NetJets canceled a $2.6 billion order with Hawker Beechcraft.
The Embraer order was the result of a yearlong study to evaluate its fleet for the next 10 years, Sokol said. The planes will be a special "Platinum Edition" for NetJet customers with special features.
Not counting the NetJets order, Embraer has orders for about 150 Phenom 300s. Embraer worked with NetJets and kept an open mind on how to tailor the plane to meet its customers' needs, Sokol said.