Cessna Aircraft Co., a Textron Inc. (TXT) company, said it signed a purchase agreement with NetJets Inc., a Berkshire Hathaway Inc. (BRKa, BRK-A, BRK-B) company, for delivery of up to 150 Citation Latitude business jets, with initial deliveries commencing in 2016.
NetJets chairman and chief executive officer, stated, "We are delighted to be working with Cessna to acquire aircraft that are ideally suited to our owners' needs. The Citation Latitudes will enable us to deliver unparalleled safety, service, reliability and efficiency, along with new aircraft features that will differentiate our fleet and build on the NetJets flying experience."
First flight of the Citation Latitude prototype is expected to be mid-year 2014, with FAA certification (Part 25) and entry into service expected in 2015.
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