Fractional-share provider NetJets has ordered up to 425 Bombardier and Cessna jets worth as much as $9.6 billion, with deliveries to begin in 2015. The purchase is the largest general aviation aircraft order in history and includes a firm order for 75 Bombardier Challenger 300s (plus options on another 125), a firm order for 25 Challenger 605s (plus options on 50 more) and and a firm order for 25 Cessna Citation Latitudes (plus options on an additional 125).
Fractional ownership giant NetJets Europe (Stand 7051) is diversifying into aircraft management services. In an interview with AIN, sales director Marine Eugene explained that NetJets Aircraft Management has been established as a separate operation and will soon have its own air operator’s certificate (AOC). It will focus on large-cabin and long-range business jets, from the size of the Dassault Falcon 2000 upwards.
NetJets Europe announced this week at EBACE that it is diversifying into aircraft management services. According to NJE sales director Marine Eugene, NetJets Aircraft Management has been established as a separate operation and will soon have its own air operator’s certificate. It will focus on large-cabin and long-range business jets, from the size of the Dassault Falcon 2000 upwards.
NetJets Europe is launching management services in Europe as a separate division from its fractional operations in the region. It will be similar to U.S. Executive Jet Management arm at NJE’s sister company. AIN contributing editor Thierry Dubois sat down with NetJets Europe director of sales Marine Eugene at EBACE to learn more about the new program.
Los Angeles-based aircraft charter and management firm Jet Edge was named “Private Jet Services Company 2012” yesterday by the Institute of Transport Management. Bill Papariella–a business aviation industry veteran with experience at Sentient, Marquis Jet and NetJets–founded Jet Edge last July with the help of Bard Capital Group CEO Richard Bard, Western Jet Aviation CEO Jim Hansen and four other former NetJets senior sales executives. The company has five large-cabin Gulfstreams among its fleet.
AeroMechanical Services, operating as Flyht, will provide NetJets Europe with the automated flight information reporting system (Afirs) and services for 30 Hawker Beechcraft 750/800XPs.
Thomas French, Aeromechanical Services’ CFO, told AIN, “We’ve been dealing with smaller groups, primarily regional carriers, specialty carriers and cargo operators with 30 or fewer aircraft. This places the technology we’ve developed over the years with a major player and takes us into another level.”
The world leader in fractional ownership is coming to China, but fractional shares won’t be on its service menu here–at least for the time being. After years of looking to enter the Chinese private aviation market, here at the ABACE show yesterday NetJets finally confirmed plans for a new joint venture in the People’s Republic of China.
After years of looking to enter the Chinese private aviation market, NetJets finally confirmed plans for a new joint venture in the People’s Republic of China today at the Asian Business Aviation Conference & Exhibition (Abace) in Shanghai. Though NetJets is known as the company that pioneered the sale of aircraft fractional shares in the U.S. and Europe, its services in China “will begin only with managing and chartering aircraft that are wholly owned by customers” rather than fractional ownership.
After almost a decade of controversy, four years since the first complaint was filed and several postponements of the actual trial, the Bobigny Criminal Court (a French court near Paris Le Bourget Airport) decided on Tuesday to acquit NetJets Management Ltd and NetJets Transportes Aéreos (two companies trading as NetJets Europe) in a case where they were accused of employment practices contrary to French law. All civil plaintiffs’ claims were rejected.
“A few years ago NetJets was my number-one worry–its costs were far out of line with revenues, and cash was hemorrhaging,” Warren Buffett, chairman of NetJets and FlightSafety International parent company Berkshire Hathaway, wrote in his latest annual letter to shareholders, released on Saturday. “These problems are now behind us,” with NetJets delivering $227 million in pre-tax earnings last year, up $20 million from 2010.