UK-based European Skytime has been remarketing NetJets Europe shares for almost two years under its Flight Commitment program. On February 15 it revised its prices downward to reflect the fact that Executive Jet now allows one-eighth-share holders 100 occupied hours per year (compared with 75 hr previously).
Marquis, the U.S.-based remarketer of Executive Jet’s NetJets fractional-ownership shares, has opened a European sister company. London-based Marquis Jet Partners is selling 25-flight-hour packages for the four aircraft types in the NetJets Europe fleet, namely the Citation Bravo, Citation Excel, Hawker 800XP and Falcon 2000.
NetJets Europe yesterday announced it is partnering with Ashish Chordia–CEO of Mumbai-based Shreyans, an importer of luxury goods–to act as its strategic partner to start a fractional aircraft program in India.
German-based airline Lufthansa has ordered two Cessna Citation CJ3 and two Citation XLS+ business jets for its Private Jet service, which offers connections and point-to-point travel to first-class passengers in Europe. The new fleet will also include three Citation CJ1+s that were part of an earlier Lufthansa order for training purposes. All Cessna deliveries are expected between this month and December.
The General Administration of the Civil Aviation of China (CAAC) has awarded type certification to Gulfstream Aerospace for five of its business jet models–the Gulfstream GV, G350, G450, G500 and G550. The TC allows the registration and operation of all those models within China.
Due to increasing customer demand, NetJets Europe last month negotiated with several business jet manufacturers to accelerate delivery of 39 new aircraft worth some $715 million. The airplanes to be delivered ahead of the original schedule include 10 Cessna Citation XLSes; three Dassault Falcon 2000LXs and two Falcon 7Xs; one Gulfstream G450 and three G550s; and seven Hawker 400XPs, nine Hawker 750s and four Hawker 4000s.
NetJets Europe is targeting fast-expanding Russian businesses for its fractional-ownership program. It has dropped the ferry charges that have previously been applied for flights out of Moscow and St. Petersburg to allow Russian clients the same terms and conditions as provided to program members in western Europe.
As he does every year in his annual report, Berkshire Hathaway CEO Warren Buffett gave his frank and folksy description of how his company’s many holdings performed in the previous year, including FlightSafety International and NetJets.
The business-jet fractional-ownership fleet continues to grow at a phenomenal rate and now accounts for more than 60 percent of total industry backlog, reflecting falling orders from traditional customers. The situation leaves major U.S. manufacturers heavily exposed; indeed, so important have fractional sales become that Bombardier, Gulfstream, Cessna and Raytheon are all involved in such programs.
Due to increasing customer demand, fractional aircraft provider NetJets Europe yesterday said it has worked with aircraft manufacturers to accelerate delivery of 39 new business jets worth more than $715 million.