NetJets places order for up to 120 jets

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MONTREAL, March 2 (UPI) -- Canadian airplane maker Bombardier Aerospace said Wednesday it has received its largest order ever with 50 confirmed deliveries and an option of 70 more.

The net value of the NetJets Inc. order announced Tuesday is $2.8 billion confirmed. If the additional 70 planes are purchased, the total value of the deal would surpass $6.7 billion, Bombardier Aerospace said.

The first 50 planes on the order are Global business jets. In total, the order "encompasses all members of the Global aircraft family, including the Global 5000, global Express XRS, Global 7000 and Global 8000 jets," the company said.

Delivery of 30 Global 5000 Vision and Global Express XRS Vision aircraft is expected to begin in the fourth quarter of 2012. Delivery of 20 more jets would begin in 2017, the airplane maker said.

NetJets, owned by Berkshire Hathaway of Columbus, Ohio, is the world's largest business aircraft operator, Bombardier Aerospace said in a statement.

"We are especially happy that NetJets shares our excitement in the Global aircraft family strategy, including our recently launched Global 7000 and Global 8000 jets," Bombardier Business Aircraft President Steve Ridolfi said.

NetJets President Jordan Hansell said his company is "very impressed with Bombardier's product strategy and vision for the future."