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The number of preowned private jet transactions completed in the second quarter of 2022 dipped from 316 to 310.
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.
| 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 $10,205 per hour, including FET based on a 3-year lease at 25 hours per year (on waitlist) |
| 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. 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.
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 offers the Phenom 300, Citation XLS, Citation Sovereign, Challenger 350, Challenger 650, and Gulfstream 450 for its jet card, fractional ownership, and lease programs. Additionally, it offers the Citation Latitude, Global 5000, 6000, and 7500 for leases and fractional ownership.
Its Executive Jet Management arm offers aircraft management, jet cards, and on-demand charter.
NetJets Inc. is the largest operator of private jets in the world. In March 2021, NetJets said it had obtained options for 20 Aerion supersonic private jets. However, the program was later suspended.
In March 2021, it signed an MOU for 150 eVTOLs from Lilium.
In 2021, it flew approximately 444,000 passengers and operated 313,000 flights.
NetJets is included in the Private Jet Card Comparisons’ database of over 50 jet card 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, additionally, during peak periods, aircraft managed via Executive Jet Management.
| Aircraft | Size | Number in Fleet |
| Phenom 300 | Light | 111 |
| Citation XLS | Midsize | 76 |
| Citation Sovereign | Super Midsize | 38 |
| Citation Latitude | Super Midsize | 162 |
| Challenger 350 | Super Midsize | 85 |
| Citation Longitude | Super Midsize | 29 |
| Falcon 2000EX | Large | 15 |
| Challenger 650 | Large | 33 |
| Gulfstream G450 | Large | 6 |
| Global 5000 | Ultra-Long-Haul | 14 |
| Global 6000 | Ultra-Long-Haul | 32 |
| Global 7500 | Ultra-Long-Haul | 3 |
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. While jet cards are on hiatus, 25-hour leases start at $10,205 per hour based on a 3-year contract. .It also offers the Citation Excel/XLS, Sovereign, Latitude, Challenger 350, and Challenger 650 in the U.S. 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 leases, and 90 blackout days in Europe on jet cards.
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
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