NetJets is buying up to 100 additional light jets from Embraer with its Phenom 300E for both the U.S. and Europe
In the first major announcement to lead off the annual National Business Aviation Association Conference, NetJets has ordered 100 light jets. The deal is valued at $1.2 billion, according to the OEM.
Boston-based jet card broker Magellan Jets is promoting its Phenom 300 jet card ahead of a planned rate increase. The hike is scheduled to go into effect on August 16. Most of all, it’s making the point that its version of Embraer’s popular light jet is still available.
As flight demand exceeds NetJets’ all-time highs, the move impacts renewals and new customers for jet cards, leases and fractional ownership shares
After raising rates, eliminating the Citation Latitude from its card offerings, suspending sales of its Classic jet cards, and moving to peak day blackouts on its Elite cards, NetJets this morning is putting a “temporary pause” on the sale of jet cards, fractional shares and leases on its Phenom 300 and Citation XLS entry-level aircraft options. The move impacts both new customers and existing customers who are seeking to stay with the world’s largest private jet operator.
Berkshire Hathaway’s Service group, which houses NetJets and Flight Safety, saw revenues drop by $1.15 billion (8.5%) in 2020 compared to 2019. Pre-tax earnings decreased $81 million (4.8%)
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.