NetJets Sees Milestone in Fleet Renewal

 - June 14, 2018, 10:41 AM
The Cessna Latitude has become one of the most popular aircraft in the NetJets fleet. Since 2016, the company has received and completely sold its shares in 60 of the midsize jets, and it is expecting to take delivery of another 24 by year-end.

Since 2012, NetJets has taken delivery of 243 new jets in its fleet-renewal program, according to Patrick Gallagher, the company’s executive vice president for sales and marketing. In 2012, the Ohio-based fractional operator placed aircraft orders for more than $17 billion, and it has now reached a tipping point with more jets in its fleet delivered since that order than before it.

“The biggest news coming out of NetJets for the last couple of years is what we’ve done with our fleet,” he told AIN during a media tour to the U.S. Open Golf Tournament this week. “What’s happening at NetJets is unique to the industry in the sense that we’re not only taking deliveries of the orders that we made, but we’re actually exercising options above and above those.”

For the tour, the company chose to demonstrate its Cessna Latitude, which Gallagher described as one of the most popular platforms in the fractional provider's history. Since taking its first deliveries of the midsize twinjet in 2016, NetJets has 60 in its fleet and expects to receive an additional 24 by the end of the year. Gallagher noted that its customer backlog for the aircraft extends into September.