WICHITA, Kan., June 28 /PRNewswire-FirstCall/ -- NetJets(R) Inc. is
bolstering its worldwide operations by signing a contract with Raytheon
Aircraft Company for 20 Hawker 800XP mid-size business jets and 20 Hawker
400XP light business jets.
Total value of the contract will exceed $300 million. The Hawker 400XPs
and 800XPs will be based in Europe and the United States. The 40 aircraft will
be delivered in the 2005-07 timeframe.
"This agreement recognizes that the growing NetJet worldwide customer base
prefers roomy cabin interiors offered by both the Hawker 400XP and Hawker
800XP," said Jim Schuster, Chairman and CEO of Raytheon Aircraft. "It's also
a reflection of our efforts over the last several years to build perfect
aircraft and improve customer service and support to world-class status."
"Raytheon's commitment to customer service and quality aircraft were key
factors in our decision," said NetJets Chairman Richard Santulli. "NetJets
guarantees aircraft availability 24 hours a day, 365 days a year, and we need
a superb service organization to back us up."
This most recent agreement follows a series of transactions between
Raytheon Aircraft and NetJets starting late last year. They are:
* December 2003 -- NetJets orders 50 new Hawker 400XPs and eight Hawker
800XPs. The order establishes the Hawker 400XP as NetJets' primary
entry-level fractional aircraft ownership offering.
* February 2004 -- Raytheon Aircraft and NetJets sign a 10-year
maintenance contract with additional options for Hawker 1000, Hawker
800XP and Hawker 400XP business jets in the NetJets fleet.
* February 2004 -- NetJets orders an additional two Hawker 800XPs.
Total value of all transactions is approximately $1 billion.
The Hawker 400XP and its predecessor, the Beechjet 400A, is the most
popular light jet in fractional service. The Hawker 400XP was introduced in
May 2003 at the European Business Aviation Convention and Exhibition. The
Hawker 400XP (eXtra Payload) features a 200-lb. gross weight increase over its
predecessor, the Beechjet 400A. This gives customers additional operational
capability to add another passenger, or operate with the same number of
passengers and increase the fuel onboard by 200 pounds for increased range.
The Hawker 800XP is the world's best-selling mid-size business jet. It
offers the largest cabin in its class, with typical seating layouts for six to
10 passengers in a variety of configurations. The cabin provides headroom and
the ability to walk around with ease during flight. The Hawker 800XP is
equipped with Honeywell TFE 731-5BR turbofan engines and features Collins Pro
Line 21 avionics as standard equipment.
Raytheon Aircraft designs, manufactures, markets and supports Beechcraft
and Hawker aircraft for the world's commercial, military and regional airline
NetJets Inc., a Bershire Hathaway Inc. company, provides the safest and
most secure private aviation travel solutions in the world. In 2004, NetJets
will fly more than 260,000 flights to over 140 different countries. NetJets
fractional aircraft ownership allows individuals and companies to buy a piece
of a private business jet at a fraction of the cost of whole aircraft
ownership, and guarantees availability 365 days a year with just a few hours
notice. More information on NetJets is available at http://www.netjets.com/
Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 billion, is an
industry leader in defense and government electronics, space, information
technology, technical services, and business and special mission aircraft.
With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide.
SOURCE: Raytheon Aircraft Company
Web site: http://www.netjets.com/