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Archive for Saturday, December 3, 2005

Raytheon Wichita unit lands $1 billion order

December 3, 2005

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Defense contractor Raytheon Co.'s Kansas-based aircraft unit said Friday it had won a contract worth more than $1 billion to supply 50 Hawker business jets to NetJets Inc. and provide maintenance support.

Wichita-based Raytheon Aircraft said it was the largest single commercial order in the company's history.

NetJets is a private air charter service that caters to companies and business executives, using a "fractional" ownership model that allows individuals and businesses to co-own planes and the share use. NetJets is owned by Omaha, Neb.-based Berkshire Hathaway Inc., led by investor Warren Buffett.

Deliveries of Hawker 4000 aircraft, a twin-engine jet classified as a "super-midsize" aircraft, are to begin in 2007 and continue through 2013, said Raytheon Aircraft, a unit of Waltham, Mass.-based Raytheon Co.

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