Tag: Berkshire Hathaway NetJets

NetJets predicts return to 2019 flight levels by 2021 as private aviation bosses offer a bullish outlook

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NetJets, Wheels Up, and Sentient Jet execs tell attendees at Corporate Jet Investor Americas 2020 they expect the private jet recovery to continue through next year

Wheels Up, with the second-largest for-hire fleet behind NetJets, says flying is already at pre-COVID levels. Jet card leader Sentient Jet recently restored pre-pandemic budget levels

Airline CEOs continue to say it could take until 2024 or beyond to recover from the COVID-19 downturn. In a parallel universe, the heads of private aviation’s biggest players painted a far different picture. Bosses at NetJets, Wheels Up, and Sentient Jet each offered bullish 2021 forecasts. They were all speaking at Corporate Jet Investor Americas 2020.

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NetJets sees big increase in new customers as Berkshire Hathaway reports Q3 financials

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NetJets financials

NetJets achieved a three-fold rise in new customers for the year as Berkshire Hathaway reports a 14.3% “aggregate” revenue drop for NetJets and Flight Safety year-to-date

While it’s hard to decipher NetJets‘ financial performance from Berkshire Hathaway’s quarterly reports and other filings, it appears the world’s largest private aviation provider is weathering this recession much better than the last one.

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NetJets sets hourly rates for carbon offsets in global sustainability push

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NetJets sustainability

Worldwide private jet leader NetJets has launched an umbrella campaign for its initiatives to reduce carbon footprint, including increasing awareness on how its customers can participate

While NetJets has long had many initiatives around reducing carbon footprint, today, it is launching an umbrella program around three key points of focus. It is also for the first time publishing on its consumer website the cost to buy carbon offsets and now will highlight the offset options in all proposals to both individual and corporate customers.

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Wheels Up adds whole aircraft sales unit

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Wheels Up appoints Bergeson COO

Wheels Up Aircraft Sales enables the private aviation provider to offer one-stop shopping

Jet sharing, empty legs, on-demand charter, fixed-rate jet cards, aircraft management, MRO services, and now full aircraft sales brokering are under the Wheels Up brand

With a powerful digital presence and brand recognition only matched by market leader NetJets, Wheels Up is once again showing it intends to be a driving force in private aviation.

This morning’s announcement of Wheels Up Aircraft Sales puts the company into aircraft brokerage, acquisition, trade, and advisory services.

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NetJets restructures jet card pricing, reduces rates

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NetJets pricing

The world’s largest private jet operator is updating its Marquis Jet and Elite jet card memberships in response to declining fuel prices and the COVID-19 Coronavirus pandemic

NetJets is eliminating fuel surcharges on its Marquis jet card programs and moving to inclusive pricing. At the same time, it is reducing the inclusive pricing on its Elite branded jet cards.

The move was not publicly announced but is instead being communicated directly to customers and prospects.

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