NetJets lost some of its creative energy in July when Marquis Jet founder and former CEO Kenny Dichter resigned as vice chairman of the company.
Britain’s Office of Fair Trading (OFT) has said that it will not continue to investigate a complaint made against NetJets Europe because it has insufficient resources to do so.
More than four years after some French executive charter operators began voicing concerns about the legality of NetJets Europe’s operations in that country, the trial of the fractional ownership ope
Signature Flight Support and NetJets signed a long-term lease that will provide the fractional operator with a dedicated, private terminal at Palm Beach International Airport (PBI). The project, slated for completion in early 2013, will include a 10,000-sq-ft terminal as well as approximately six acres of paved ramp, aircraft movement and car parking areas.
NetJets, the Berkshire Hathaway-owned fractional-share operator, completed a purchase agreement early last month for up to 120 new Bombardier Globals, a deal worth $6.7 billion if all aircraft options are taken. Notably, this is NetJets’ first order for Bombardier business jets; previous large-cabin acquisitions by the fractional provider have been for Gulfstreams and Falcons.
Yesterday’s announcement that NetJets chairman and CEO David Sokol resigned from his post at that company and two other Berkshire Hathaway-owned firms took the aviation industry, Wall Street and just about everyone else by surprise. Sokol notably turned NetJets around, yet his elimination of redundant aircraft and personnel at the top from the fractional-jet provider was not without its critics.
Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results. Pre-tax profits at the division soared to $984 million, versus a $91 million loss in 2009.
David Sokol has resigned from his job as chairman of several Berkshire Hathaway-owned companies, including fractional-share provider NetJets. According to a statement issued late this afternoon by Berkshire Hathaway’s Warren Buffett, Sokol’s assistant submitted the resignation letter to Buffett late in the day on Monday, March 28.
NetJets, the Berkshire Hathaway-owned fractional-share operator, completed a purchase agreement late last night for up to 120 new Bombardier Global jets, a deal worth $6.7 billion if all aircraft options are taken. Notably, this is NetJets’ first order for Bombardier business jets; previous large-cabin acquisitions by the fractional provider have been for Gulfstreams and Falcons.