Executive Jet orders 100 Hawker Horizon bizjets in $2 billion pact

June 16th, 1999

Executive Jet, Inc. plans to purchase a record 100 new Raytheon Aircraft Hawker Horizon super mid-size business jets to serve the company's NetJets fractional ownership fleet. Executive Jet has placed an order for 50 Hawker Horizons, valued at approximately $1 billion with support activities. The company t options for took 50 aircraft, which if exercised would make the programme worth $2 billion, including support work.

The contract is the largest business jet fleet transaction in Raytheon Aircraft's history. It also increases the Hawker Horizon order book, including options, to 150 aircraft. Deliveries of Executive Jet's initial 50 Hawker Horizons will begin in 2002 and continue through 2008.

Under previously announced deals, Executive Jet plans to purchase 56 Hawker 800XP mid-size business jets for its NetJets programme, 20 of which have been targeted for its NetJets Europe programme.

"We know our customers will appreciate the outstanding balance of range, speed and large cabin size that the Hawker Horizon will add to our fleet. Raytheon Aircraft's superior product support has also assured that the Hawkers have a very high dispatch rate to meet our customers' schedules', Richard Santulli, chairman of Executive Jet and creator of the fractional ownership concept in 1986.

The Hawker Horizon is a transcontinental business jet with a 72-inch stand-up cabin, flat floor running the entire length of the cabin and a pressurised 105-cu. ft. aft baggage compartment that is accessible in flight. The aircraft features a swept, all-metal wing combined with a composite fuselage. Initial deliveries are scheduled to begin in 2001.

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