Fractional aircraft provider NetJets and jet manufacturer Gulfstream announced a deal between the two companies last Friday worth about $1.9 billion. The deal will see NetJets purchase a total of 40 new Gulfstream jets.

Each year from 2012 to 2016, NetJets will receive four Gulfstream G 450s and four Gulfstream G550s. In addition to the aircraft order, Gulfstream also secured a long-term maintenance contract with NetJets worth more then $250 million.

The new deal will bolster NetJets already sizeable fleet of Gulfstream aircraft, currently numbering more than 110 jets: 21 G550/GVs, 55 G540/400/IV-SPs, and 34 Gulfstream G200s. The 36 percent increase in NetJets’ Gulfstream fleet suggests that the market and long term outlook for fractionals remains strong, even as the US economy has showed signs of softening, and commercial air carriers have struggled amid sky-high fuel costs.

There has been no word as of yet whether NetJets is considering purchasing Gulfstream’s recently announced G 650. If NetJets is interested in the plane they had better get in line. First deliveries of Gulfstream’s new flagship are expected in 2013, and the wait-list already stretches to 2020.