NetJets Europe boosts sales

 - February 2, 2007, 9:49 AM

NetJets Europe (NJE) sold shares in 18 complete aircraft last year, representing an 80-percent increase in sales over 2003. By the end of last year the European fractional ownership program’s fleet consisted of 58 aircraft. That number is set to grow to 91, with 33 deliveries scheduled for this year.

According to the company, this will make NJE the seventh largest air transport operator in Europe, with more aircraft than flag carriers KLM and Swiss. The average age of its aircraft is less than three years.

In a February 14 announcement, NJE predicted rapid sales growth for this year and indicated that it would achieve its first operating profit by year-end. It still expects to record a net profit next year, 10 years after the U.S.-based group launched the program.

NJE deliveries this year will have a combined value of $364 million. They will include six Cessna Citation Bravos (valued at $38.4 million), eight Citation Excels ($87.2 million), 10 Raytheon Hawker 400XPs ($64 million), six Hawker 800XPs ($75 million), one Dassault Falcon 2000EX ($25 million), one Falcon 900EX ($34 million) and a Gulfstream G550 ($40 million).

In addition to aircraft fractional shares, NJE sales also include prepaid block charter time bought through its Private Jet and Corporate cards. These were formerly offered by Marquis Jet Partners Europe, which NetJets took over last year.