NetJets halts immediate access for fractional shares, leases

There are no rooms at the inn – or airplanes for sale – at least if you want to fly immediately with NetJets.

In perhaps another warning sign that the industry is facing a severe shortage of private jet capacity, NetJets has “paused share and lease sales for immediate access.”

Typically when a customer buys a share or lease, until that tail number is delivered, the fractional provider arranges an interim lease so they can fly immediately.

In an email from NetJets‘ president Patrick Gallagher, he writes, the move “resulted in further relief of demand on the fleet. Some of our competitors have followed suit, though none have gone to the lengths that we have to protect the service of our existing owners.”

In August, NetJets suspended all jet card sales, creating a waiting list.

Gallagher says there are now over 1,500 requests.

The world’s largest private jet operator recently placed an order for 100 additional Embraer Phenom 300Es.

It had previously said it would add over 100 extra jets by the end of 2022. In today’s email, NetJets says that it will now add over 125 planes.

So far this year, the unit of Berkshire Hathaway hired more than 550 new employees. It expects to recruit over 100 more pilots. It will add 120 other jobs across the company as soon as possible.

When can I fly?

In terms of how soon new customers will be able to fly, Gallagher tells Private Jet Card Comparisons, “It varies by aircraft type. Right now, we are selling into September-October 2022 deliveries. But not everyone will wait that long to fly as we expect to open some interim solutions back up in Q1.”

In the email, Gallagher wrote, “While others appear to be more focused on generating cash and growing their customer base than on customer satisfaction, we are proud to be able to concentrate on protecting the superior travel experience we offer our owners.”

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