NetJets

September 9, 2014 - 2:55pm

Helicopter leasing company Milestone Aviation Group signaled its intention to offer stock to the public–an initial public offering (IPO)–yesterday in a filing with the U.S. Securities and Exchange Commission. No date for the IPO has been set, nor has any valuation been placed on shares to be offered. Milestone was founded by former NetJets CEO and founder Richard Santulli in 2010 with an initial capitalization of $500 million. The company’s current fleet is valued at $2.2 billion and it has more than 145 helicopters on order worth $3.4 billion.

August 12, 2014 - 2:55pm

NetJets subsidiary NetJets China successfully completed proving runs in China, the fourth phase in the process to receive an air operator certificate (AOC) from the Civil Aviation Administration of China. The proving runs were conducted just over a week ago in two Hawker 800s that will be the first aircraft in the NetJets China fleet.

August 7, 2014 - 2:25pm

Revenue at Berkshire Hathaway’s service business, which includes NetJets and FlightSafety International, rose by $507 million, to $4.9 billion, during the first half of the year, while profits climbed by $72 million, to $605 million. NetJets accounted for nearly a third of this revenue increase, thanks to higher flight services revenue attributable to more flight hours, as well as better rates and product mix changes. FlightSafety’s revenue also climbed due to increased simulator training activity.

July 29, 2014 - 3:45pm

The Embraer Phenom 300 handed over to NetJets on Friday at Embraer Executive Jets’ Melbourne, Fla. facility marked three major milestones for the light jet program. It not only was the 25th Phenom 300 delivered to the fractional aircraft provider, it was also the 200th Phenom 300 and the 75th U.S.-assembled Phenom.

July 29, 2014 - 3:00pm

Fractional aircraft ownership firm Executive AirShare hired industry veteran Pete Pedicino as regional vice president of sales for Dallas and South Texas. In his new role, Pedicino “will drive Executive AirShare’s growth in key Texas markets.” The company now serves customers in Houston, San Antonio and Austin, and has served customers in Dallas and Fort Worth since 2006. Pedicino has spent the past 14 years in the fractional aircraft ownership industry, most recently as senior vice president of sales with NetJets.

July 1, 2014 - 1:50pm

In a ceremony Friday at its facility at New York Westchester County Airport, NetJets accepted the first Bombardier Challenger 350 as launch customer for the super-midsize jet. “This is a terrific piece of machinery and we couldn’t be more excited about it,” said NetJets chairman and CEO Jordan Hansell.

June 10, 2014 - 6:00pm

NetJets’ Chinese joint venture, NetJets Business Aviation Ltd, obtained its operating permit from the Civil Aviation Administration of China (CAAC) yesterday. This moves NetJets China closer to the final step in its certification–approval of its operating certificate, which would allow it to begin providing private jet services for customers in China.

June 10, 2014 - 6:00pm

NetJets’ Chinese joint venture, NetJets Business Aviation Ltd, obtained its operating permit from the Civil Aviation Administration of China (CAAC) yesterday. This moves NetJets China closer to the final step in its certification–approval of its operating certificate, which would allow it to begin providing private jet services for customers in China.

June 5, 2014 - 2:44pm

NetJets’ repair stations achieved a new safety milestone yesterday, entering Level III of the FAA’s safety management system (SMS) program. As such, NetJets is the first repair station in the U.S. to achieve this safety level.

June 2, 2014 - 5:30am

Morale among industry visitors to last month’s 14th annual European Business Aviation Convention & Exhibition (EBACE) seemed conclusively higher than it has been for much of the past half dozen or so years, blighted as they have been by a stilted recovery from the financial crisis of 2008.

 
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