Effective immediately NetJets is halting jet cards sales, placing requests on a waitlist.
After putting the brakes on jet card sales over the past couple of months, NetJets is coming to a full and halting stop.
In an email to customers sent this afternoon NetJets’ president Patrick Gallagher wrote, “Effective immediately, all requests for the NetJets Card Program will be placed on a waitlist. This temporary pause on the sale of all cards allows us to prioritize the exceptional experiences we promise to deliver.”
He continues, “As the leader in private aviation, when the industry is seeing record-high flight demand, it comes as no surprise that those looking to fly private want to fly with NetJets. Despite taking previous actions to slow our sales process, we have continued to see the interest in NetJets accelerate. Having by far the most experience, the greatest market share and strongest balance sheet in our industry gives us the knowledge and confidence to navigate times like these and protect your travel experience for the long term. We will continue to be transparent with you about the measures we are taking to focus on safety and service for each and every Owner.”
In terms of what’s next, the email states, “Until we begin selling cards again, today’s pricing will be secured for those joining our waitlist. In other words, if the pause on cards extends into 2022, anyone on the waitlist will be grandfathered in at 2021 rates and terms by simply executing the agreement with no money down.”
The letter advises, “For cardholders with low balances and near-term flying needs or anyone with questions about this initiative, please feel free to reach out to your sales team.”
Private Jet Card Comparisons understands that NetJets is evaluating renewals for low-balance customers on a one-by-one basis. In other words, even while sales are officially halted, it seems possible NetJets will still be selling cards to some degree for existing customers.
NetJets is adding over 100 aircraft between now and the end of 2022. In June it suspended its Elite jet cards and the Latitude. Then last month it halted sales of cards, shares, and leases on the Phenom 300 and Citation XLS. It also moved its 45 Elite card peak days from a 25% surcharge to a full blackout.
The decision to stop all card sales should mean an opportunity for competitors to gain share.