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The world’s largest private jet operator, NetJets, Inc., saw a drop in flight hours and pre-tax earnings, according to Berkshire Hathaway’s 2020 annual report, released today.
Last month we reported NetJets restructured its jet card program eliminating fuel surcharges and cutting prices.
It also added jet cards with the Cessna Citation Latitude and Bombardier’s Challenger 350 and 650 in its Classic Card (nee Marquis Jet) and Elite Card formats.
| Year Founded | 1964 |
| Leadership | Adam Johnson, Chairman & CEO Alan Bobo, Chief Operating Officer Patrick Gallagher, President, Sales, Marketing & Service Pete Richards, Chief Financial Officer Bradley Ferrell, Executive Vice President, Administrative Services Bram Van Der Ploeg, Executive Vice President, Business Insights & Analysis Doug Henneberry, Executive Vice President, Aircraft Asset Management Warren Buffett; Chairman and Chief Executive, Berkshire Hathaway |
| Headquarters | Columbus, OH |
| Jet Card Hourly Rates | Phenom 300 from $11,156 per hour, including FET |
| Related Products | Fractional Ownership, Leasing, Aircraft Sales, VIP Security, plus Aircraft Management, On-demand charter, and Empty legs via Executive Jet Management |
| Related Companies | Berkshire Hathaway (parent), NetJets Europe, Executive Jet Management, QS Partners, QS Security |
Columbus, Ohio-based NetJets is a subsidiary of Warren Buffett’s Berkshire Hathaway.
NetJets Inc. is the largest private jet operator in both the U.S. and globally.
It is the inventor of the fractional private jet ownership concept by founder and former chairman Richard Santulli who sold the company to Berkshire Hathaway in 1998 for $725 million.
Its Executive Jet Management arm offers aircraft management, jet cards, and on-demand charter.
It flies around 700,000 passengers and 37,000 pets annually.
The company has over 11,000 fractional owner and jet card clients, with over 8,400 customers in North America and nearly 3,000 clients in Europe.
It operates over 1,200 flights per day.
NetJets then entered the jet card space with its 2010 acquisition of Marquis Jet partners (Review private jet fractional and membership company M&A activity with our PRIVATE AVIATION DEAL BOOK.).
Until 2021, it branded its jet card under the Marquis Jet banner. Today, the company’s offerings include private travel solutions from fractional ownership and leasing to an extensive line-up of jet cards and whole aircraft sales. About 50% of fractional and lease customers start with its jet card program.
NetJets currently flies the Embraer Phenom 300, Textron Aviation Citation XLS, Citation Sovereign, Citation Latitude, Citation Longitude, Gulfstream 450, Challenger 350, Challenger 650, Global 5000, 5500, 6000, and 7500.
In March 2021, it signed an MOU for 150 eVTOLs from Lilium.
NetJets is included in the Private Jet Card Comparisons’ database of over 50 jet card and fractional ownership providers, enabling you to compare programs in minutes.
When was it founded?
The predecessor company of NetJets, Executive Jet Aviation, was founded in1964. In 1987 then CEO Richard Santulli launched the first fractional ownership program for private jets and renamed the company as NetJets.
Who owns NetJets?
Berkshire Hathaway
Who is the CEO?
Adam Johnson
How are aircraft sourced?
Its fractional ownership fleet and off-fleet approximately 3% of the time via Executive Jet Management and vetted third-party charter operators.
| Aircraft | Size | Number in Fleet |
| Phenom 300 | Light | 121 |
| Citation XLS | Midsize | 76 |
| Citation Sovereign | Super Midsize | 37 |
| Citation Latitude | Super Midsize | 186 |
| Challenger 350 | Super Midsize | 87 |
| Citation Longitude | Super Midsize | 42 |
| Falcon 2000EX | Large | 14 |
| Challenger 650 | Large | 39 |
| Gulfstream G450 | Large | NA |
| Global 5000/5500 | Ultra-Long-Haul | 20 |
| Global 6000 | Ultra-Long-Haul | 34 |
| Global 7500 | Ultra-Long-Haul | 6 |
What are the initiation and membership fees?
There are no initiation and membership fees for its jet card programs
What is the entry-level program?
Jet cards start at 25 hours with the entry-level Embraer Phenom 300. 25-hour leases start at $10,205 per hour based on a 3-year contract. Jet cards on the Phenonom 300 are $11,156 per hour as of November 2022. .It also offers the Citation Excel/XLS, Sovereign, Latitude, Challenger 350, and Challenger 650 in the U.S. jet card program. In 2021, NetJets Europe launched a pay-as-you-go membership option, that is currently on hiatus.
Do NetJets cards provide guaranteed availability?
Yes, with 45 blackout days in the U.S. for 25-hour jet cards, and 45 blackout days in Europe on jet cards. Fractional ownership has just 10 peak days and no blackout dates
Is the hourly rate guaranteed?
Yes
What is the company website?
https://www.netjets.com/en-us/
Where is NetJets’s headquarters?
Columbus, OH; NetJets Europe is headquartered in Lisbon, Portugal
Contact a Sales Executive at NetJets
The latest news and updates from NetJets: