NetJets Europe has a new CEO. With more than 25 years of global leadership experience, Mario Pacifico has been tapped to head NetJets’ operations in Europe and be based out of its London office.
According to a press release received by Private Jet Card Comparisons, Pacifico joins NetJets at a time of significant growth. In 2017, NetJets flights in Europe grew by 7.2% versus the same period in 2016, to a total of around 50,000 flights. Total NetJets flight hours in Europe were up 9.5%, more than double the amount of the wider industry.
Prior to joining NetJets, Pacifico was COO of North America Business Services at Luxottica Group, and he previously held senior leadership roles at Prada Group and ENI’s upstream Italy Division. Pacifico’s appointment coincides with NetJets’ announcement that it has successfully obtained certification to operate its new Cessna Citation Latitude aircraft at London City Airport, allowing customers to save a significant amount of time in their journeys to and from London’s financial district.
Over 53% of NetJets’ European customer base comes from London’s finance sector – with private equity and hedge fund management seeing the most growth over the past 12 months. London City Airport’s certification required considerable time and financial investment to train NetJets’ pilots for the steep approach, short runway and proximity to the city’s tall buildings.
NetJets operated 1,708 flights in and out of London City Airport in 2017. It is the largest private operator at the airport with 42% of private aviation traffic, the company said. The Citation Latitude is the newest addition to NetJets European fleet of around 90 aircraft. The aircraft seats up to eight passengers and is able to fly to Dubai, Nigeria and Beirut from London. Only around 100 Latitude aircraft exist in the world and NetJets currently has almost 60 across its global operations.
In a statement, Pacific said: “NetJets now accounts for 6% of the total private jet market in Europe with around 74,000 flight hours. This is an exciting time of growth and I look forward to working with the team here to propel the company forward at this pinnacle moment.”
Robert Sinclair, CEO of London City Airport said, “London City Airport offers London’s most central private jet facility, just five miles from the City, with a 90-second service from car to plane. This speed and efficiency is valued by NetJets and its clients, and we look forward to continued growth of its business here.”