NetJets terminated its franchise agreement for Middle East fractional aircraft services with National Air Services (NAS) of Saudi Arabia this week. NAS CEO Sulaiman Al-Hamdan conveyed the news to NAS employees in an email on Monday, while promising that the company’s business would continue as is. In November 2009, NetJets renewed its joint-venture agreement with NAS for a further three years. It’s unclear why the relationship was severed before the contract ended. “The 11-year-long franchise agreement with NAS in Saudi Arabia, known as NetJets Middle East, has been a great way for NetJets to understand and venture into the Middle East market,” a NetJets Europe spokesperson told AIN. “NetJets has decided to end its franchise agreement with NAS. In the meantime, NetJets will provide alternative solutions to our owners who need to fly in this region.” The National Air Service fractional operation, which goes under the name NasJets, currently flies Gulfstream IV-SPs and G450s; Dassault Falcon 2000s and 2000LXs; and Hawker Beechcraft Hawker 750s and 800XPs. To comply with Saudi law, Jeddah-based NAS owns and operates the fractional fleet. The company employs some 75 pilots and 36 flight attendants. Besides fractional flying, NasJets also provides charter flights and aircraft brokerage services.
NetJets, NAS Dissolve Middle East Frax Partnership
- November 3, 2011, 3:12 PM