Executive Jet Aviation owner and CEO Richard Santulli brought the fractional-ownership concept to the business aviation community in the mid-1980s. Santulli created a program called NetJets, selling aircraft in shares ranging from 1/16ths to halves.
Three business jet manufacturers on June 20 separately announced fleet orders worth as much as a combined $3.5 billion. Fractional provider NetJets was the biggest shopper, placing a firm order for $1.9 billion worth of Gulfstream G450s and G550s that will “significantly expand” its large-cabin fleet. Under the agreement, NetJets will take delivery of 20 G450s and 20 G550s between 2012 and the end of 2016.
It’s become tradition. No sooner does a manufacturer introduce a new airplane than NetJets follows right behind with an order announcement. This year’s NBAA Convention is no exception. The Woodbridge, N.J.-based fractional jet operator has placed orders and options for 200 of the newest midsize business jets, introduced here by Cessna and Gulfstream, transactions that have a potential value of nearly $2 billion.
Flight Options announced yesterday that it is adding the Cessna Citation X to its current stable of 10 aircraft models, with the first five aircraft becoming available on November 1.
Defying the sluggish U.S. economy, three business jet manufacturers on Friday separately announced fleet orders worth as much as a combined $3.5 billion. Fractional provider NetJets was the biggest shopper on the block that day, placing a firm order for $1.9 billion worth of Gulfstream G450s and G550s that will “significantly expand” its large-cabin fleet.
At its inaugural staging in April, the European Business Aviation Convention & Exhibition (EBACE) did more than enough to seize a space for itself in the world’s crowded airshow calendar.
Avolar, the budding stand-alone fractional business jet division of UAL Corp., stepped up its launch effort last month with a pair of new aircraft orders–despite a current economy that has other fractional providers turning to new marketing tactics. To boot, the Avolar business plan is ahead of schedule. Avolar president Stuart Oran said at the NBAA Convention in New Orleans last month, “We are now operational.
Mark Booth, chairman and CEO of NetJets Europe, received the EBACE 2008 European Business Aviation Award in recognition of his outstanding contribution to European business aviation. The award was handed over in a ceremony prior to the opening day. Eric Mandemaker, CEO of EBAA, and Ed Bolen, president and CEO NBAA, both underlined in their speeches the leadership of Booth and NetJets in the development of business aviation in Europe.
For the past four days, the skies over EBACE have been gray, but the overcast and rain have not dampened the spirits of John Rosanvallon. The Dassault Falcon president and CEO has been watching the French business jet manufacturer’s already fat order book grow fatter still here at EBACE and he is forecasting continued demand.
Signature Aircraft Engineering at London Luton Airport has been awarded contracts to provide scheduled maintenance for Dassault Falcon 2000s in the European and Middle Eastern fleets of Executive Jet’s NetJets fractional-ownership programs. The contracts were awarded by Dassault to meet the terms of its guaranteed maintenance cost commitments to Executive Jet and will run through the end of 2004.