Embraer will deliver 50 Phenom 300 executive jets to NetJets under a new order that includes options for an additional 75 jets.

Under the order, which is expected to be valued at over $1bn, NetJets will receive the Phenom 300 Platinum edition jets.

The Phenom 300 Platinum edition will be developed by Embraer in cooperation with NetJets.

The Phenom 300 can fly up to 11 passengers through a distance of 1971nm reaching 521 mph at an altitude of up to 45,000 ft.

The jet, to be powered by Pratt &Whitney PW535 Engines, will feature technology and comfort based on the requirements of NetJets’ fractional share owners.

The Phenom 300 jets will join NetJets’ existing worldwide fleet of over 800 light, mid-size, and large-cabin aircraft.

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Deliveries of the new aircraft are due to begin in 2013.

NetJets and Embraer also signed comprehensive maintenance support agreements for a broad scope of logistics, material and maintenance services for the new fleet in the North American and European markets.