Fractional-operator NetJets has terminated its franchise agreement regarding fractional services with National Air Services (NAS) of Saudi Arabia, AIN learned today. NAS CEO Sulaiman Al-Hamdan conveyed the news to NAS employees via an email dated October 31, and promised that the company’s business would continue as is.
A NetJets Europe spokesperson told AIN via email, “The 11-year-long franchise agreement with NAS in Saudi Arabia, known as NetJets Middle East, has been a great way for NetJets to understand and venture into the Middle East market. NetJets has decided to end its franchise agreement with NAS. In the meantime NetJets will provide alternative solutions to our owners who need to fly in this region.”
The National AIr Service fractional operation, which goes under the name NasJets, currently flies Gulfstream IV-SPs and G450s; Dassault Falcon 2000s and 2000LXs; and Hawker Beechcraft Hawker 750s and 800XPs. It has a flight staff of some 75 pilots and 36 flight attendents. In additon to fractional aircraft services, NasJets also provides charter flights and aircraft brokerage.
NetJets Middle East began operations with NAS in 1999. In November 2009, parent company NetJets Inc. renewed its joint-venture agreement with NAS for a further three years. To comply with Saudi law, Jeddah-based NAS owns and operates the fractional fleet. NetJets guaranteed that its standards were met in terms of crew experience, service levels and the condition of aircraft.