NetJets Is Buying 20 Supersonic Jets

Aerion has signed a multifaceted memorandum of understanding with NetJets and its sister company FlightSafety International, including the right for NetJets to purchase 20 AS2 supersonic business jets. The deal will extend the value of Aerion’s order backlog for the Mach 1.4 aircraft to $10 billion.

Related Article

Aerion Breaks Ground on Florida HQ and Production Park

The $300 million, two-million-square-foot HQ will be “dedicated to creating zero waste" by using solar power and locally sourced recycled materials.

Under the collaborative agreement, Netjets would become the exclusive business jet operator for Aerion Connect, which is Aerion’s vision for a global mobility ecosystem that enables seamless point-to-point travel across multiple modes of transportation in urban and rural settings.

In addition, Aerion would collaborate with FlightSafety International on a supersonic flight training academy for civil, commercial, and military supersonic aircraft. The Aerion-branded academy will leverage FSI’s training expertise to serve as a center of excellence for supersonic flight training and education, Aerion said.

Aerion plans to bring the AS2 to market later this decade, saying plans to kick off production at Aerion Park in Melbourne, Florida, remain on track for 2023 after the completion of wind-tunnel validation trials late last year.

Meanwhile, Berkshire Hathaway’s 2020 annual report sees its purchase obligations swelling from $6 billion in 2024/25 to nearly $20 billion after 2025, citing increases at NetJets in addition to its energy and rail groups.

As for 2020 results, NetJets and FlightSafety collectively reported an $816 million, or 13.5 percent, drop in revenues in 2020 as the COVID-19 pandemic eroded flight and training demand. NetJets flight hours slid 27 percent for the year, while FlightSafety’s training hours decreased 30 percent.