NetJets, the largest operator of private jets in the world, sells fractional shares, leases and jet cards which start at 25 hours
NetJets and the NetJets Association of Shared Aircraft Pilots (NJASAP), said they have reached an agreement that gives all crewmembers the opportunity to earn additional compensation while enhancing the quality of life on tour. According to a press release, NetJets initiated mid-term bargaining to improve compensation for long-term and new hire pilots, leading to the new program.
NetJets Chairman and CEO Adam Johnson and NJASAP President Pedro Leroux signed the 2018 Tentative Agreement on Thursday following what the release said was several months of collaboration between the parties that paved the way for an ambitious six-week negotiation. The 2,500-member pilot group ratified the measure in late December with 81% percent voting in favor of the package of amendments that extends the 2015 Collective Bargaining Agreement an additional three years through 2026. Among other enhancements, the newly ratified Flight and Duty Pay Program (FDPP) introduces new compensation elements.
NetJets, Union Officials praise extension
“Ratification of the 2018 Tentative Agreement represents countless hours of hard work from both the NetJets team and NJASAP as we worked toward a common goal that is mutually beneficial and built on a foundation of trust and transparency,” Johnson said. “In the spirit of true collaboration, the agreement has our pilots’ best interests in mind and maintains NetJets’s position as the industry leader in pilot relations. We believe this agreement and our relationship with our crewmembers are truly unique in our industry.”
Added Leroux, “The NJASAP Executive Board is exceedingly pleased with the outcome of this negotiation – an ambitious undertaking characterized by honesty, goodwill and a genuine commitment to continuing collaboration. It is my privilege to recognize the outstanding efforts of leaders and representatives from both NetJets and NJASAP and to express my sincere appreciation to the pilot group for its thoughtful review and ratification of this ground-breaking agreement.”
How much does NetJets cost?
About 20% of NetJets flight hours are for jet card flights with the remainder on behalf of fractional shareholders and leases that typically are priced at 60-month terms. Its jet card is sold in 25 and 50-hour increments. NetJets entry-level jet card is on the Cessna Citation Excel/XLS starting at $209,000 for 25 hours excluding 7.5% Federal Excise Tax and hourly fuel surcharges. It also offers a NetJets Elite jet card which includes fuel surcharges and FET but carries more peak days priced at $215,000. Compare over 250 jet card programs, including NetJets, by subscribing to Private Jet Card Comparisons. More details here.