NetJets Orders 24 Dassault 7X Jets For $1.1 Billion

Dassault Aviation unveiled a $1.1 billion order on Tuesday for 24 Falcon 7X business jets from U.S.-based Netjets, which pioneered the concept of "fractional ownership" of executive aircraft.The order is the biggest yet for the French planemaker's latest business model, which competes with Canadian and U.S. rivals for sales spurred by security and airport congestion.

NetJets Inc., part of Warren Buffet's Berkshire Hathaway Inc., offers stakes starting at $400,000 which buys the user access to a fleet of business jets of various sizes and ranges. The 7X planes -- worth $40-45 million each depending on the frills on board -- will be delivered between 2008 and 2014.