By Michael Dabaie

Textron Inc.'s (TXT) Textron Aviation said Monday it is in fleet agreements giving Berkshire Hathaway's (BRKA) NetJets Inc. the option to purchase up to 175 super-midsize Cessna Citation Longitude aircraft and up to 150 Cessna Citation Hemisphere aircraft.

The agreement would increase NetJets' Cessna Citation fleet to more than 800 aircraft over the next 10 to 15 years. The option to purchase the Hemisphere makes NetJets the launch customer for Textron's large-cabin aircraft.

NetJets has the option to take first deliveries of the Citation Longitude in the second half of 2019, with additional options on Longitude aircraft exercised over the following 10 to 15 years. NetJets operates a fleet of 75 Citation Latitudes and expects to have 100 in service by mid 2019.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

October 15, 2018 08:39 ET (12:39 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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