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{{short description|Private business jet charter and aircraft management company}} | |||
{{For|the first commercially available web accelerator|NetJet}} | {{For|the first commercially available web accelerator|NetJet}} | ||
{{Use American English|date=June 2021}} | |||
{{Use dmy dates|date=August 2022}} | |||
{{Infobox |
{{Infobox airline | ||
| airline |
| airline = NetJets Aviation | ||
| logo |
| logo = NetJets logo.svg | ||
| |
| ICAO = EJA | ||
| |
| callsign = EXECJET | ||
| headquarters = ], ] | |||
| callsign = EXECJET | |||
| founded = {{Start date and age|1964|5|21|df=yes|p=yes|br=yes}}<br>]{{citation needed|date=October 2022|reason=unreliable source removed}} | |||
| headquarters = ], ] | |||
| aoc = DXTA401D<ref name="FAA" /> | |||
| founded = {{Start date and age|1964}},<br>]<ref>{{Cite web | title=The history of fractional Aircraft Ownership | NetJets History | url=https://www.netjets.com/AboutNetJets/Our-History/ | website=NetJets.com | access-date=February 19, 2017}}</ref> | |||
| key_people |
| key_people = {{ubl|] and ]: Adam Johnson|President of NetJets Aviation: Patrick Gallagher<ref name="NetJetsHistory01" />}} | ||
| parent |
| parent = ] | ||
| destinations |
| destinations = ] | ||
| subsidiaries = {{ubl|NetJets Aviation, Inc.|NetJets Europe|Executive Jet Management, Inc.|QS Partners|QS Security Services<ref>{{Cite web|url=https://www.bjtonline.com/business-jet-news/the-future-of-air-charter|title=The Future Of Air Charter|date=5 November 2020|website=Business Jet Traveler}}</ref>}} | |||
| fleet_size = 700 | |||
| fleet_size = 637 (July 2024)<ref>{{Cite news | url = https://www.barrons.com/articles/flexible-programs-attract-more-private-flyers-wary-of-commercial-flights-01598373114 | title = Flexible Programs Attract More Private Flyers Wary of Commercial Flights | first1 = Jim | last1 = Motavalli | author-link1 = Jim Motavalli | work = ] | issn = 1077-8039 | archive-url = https://web.archive.org/web/20210213004647/https://www.barrons.com/articles/flexible-programs-attract-more-private-flyers-wary-of-commercial-flights-01598373114 | archive-date = 13 February 2021 | url-status = live | access-date = 28 December 2021}}</ref> | |||
| website = {{URL|http://www.netjets.com}} | |||
| website = {{Official URL}} | |||
| num_employees = 7,000<ref name="NetjetsMarch2018" /> | |||
}} | }} | ||
'''NetJets Inc.''' |
'''NetJets Inc.''' is an American company that sells ] shares in private ]s.<ref name="Simon2009">{{cite book |last1= Simon |first1= Hermann |author-link1= Hermann Simon (manager) |date= 19 July 2009 |title= Hidden Champions of the Twenty-First Century: The Success Strategies of Unknown World Market Leaders |url= https://books.google.com/books?id=zoj3R9DuXwwC&pg=PA13 |publisher= ] |page= 13 |isbn= 978-0387981468 |lccn= 2009928014 |oclc= 889696178 |ol= OL24537760M |quote= NetJets poineered the fractional ownership concept for private jets. |ref= Simon2009}}</ref> | ||
Founded as '''Executive Jet Airways''' in 1964, it was later renamed '''Executive Jet Aviation'''. NetJets became the first private business jet charter and aircraft management company in the world. It launched its fractional ownership business in 1986 and became a subsidiary of ] in 1998.<ref name="auto1">{{cite web|url= https://www.barrons.com/articles/netjets-trounces-rivals-1431737039/|title= NetJets Trounces Rivals|access-date= 31 March 2021|last= Mark|first= Huber|work= barrons.com|date= 16 May 2015|archive-url= https://archive.today/20210331183054/https://www.barrons.com/articles/netjets-trounces-rivals-1431737039/|archive-date= 31 March 2021|url-status= live}}</ref><ref name="SherpaReport2019">{{cite web |url= https://www.sherpareport.com/aircraft/netjets-v-wheels-up.html |title= NETJETS COMPARED TO WHEELS UP |last= Catalano |first= Robin |date= 20 January 2018 |website= sherpareport.com |publisher= SherpaReport |archive-url= https://web.archive.org/web/20190702222504/https://www.sherpareport.com/aircraft/netjets-v-wheels-up.html |archive-date= 2 July 2019 |url-status= live |access-date= 20 October 2019 |quote= NetJets, founded by three retired military pilots in 1964 as Executive Jet Aviation, is the granddaddy of fractional ownership and private jets. Since its inception, it has grown from a fleet of ten ] aircraft to 10 types of planes and nearly 700 aircraft worldwide—the world’s largest private jet fleet. |ref= SherpaReport2019}}</ref> | |||
==History== | ==History== | ||
] | |||
] | |||
] 737-700 that the company formerly operated, photographed in 2009]] | |||
NetJets Inc., formerly Executive Jet Aviation, was founded in 1964 as the first private business jet charter and aircraft management company in the world. The founding members of the board of directors included Air Force generals ] and ], Washington lawyer and former military pilot ], and entertainers and pilots ] and ], with retired Air Force Brigadier General Olbert F. "Dick" Lassiter serving as president and chairman of the board.<ref>p. 58 in: U.S. Congress, House Committee on Banking and Currency. (1972). The Penn Central Failure and the Role of Financial Institutions. U.S. Government Printing Office, Washington, D.C. 336pp.</ref><ref>{{cite web | url=http://www.iabcrew.com/dicklassiter.html | title= Homage to Dick Lassiter | publisher= International Air Bahama Crew Association | accessdate=10 July 2009}}</ref> EJA initially began operations in 1964 with a fleet of ten ] aircraft.<ref name="netjets1">{{cite web | url=http://www.netjets.com/about_netjets/timeline.asp | title=Netjets History | accessdate=5 June 2009 | deadurl=yes | archiveurl=https://web.archive.org/web/20090416022716/http://www.netjets.com/about_netjets/timeline.asp | archivedate=16 April 2009 | df= }}</ref> Bruce Sundlun became EJA president in 1970, and Paul Tibbets became president in 1976.<ref>{{cite web | url= http://www.airportjournals.com/Display.cfm?varID=0306003 | title= Paul Tibbets: A Rendezvous with History by Di Freeze | publisher= Airport Journals | accessdate= 5 June 2009 | deadurl= yes | archiveurl= https://web.archive.org/web/20110701010101/http://www.airportjournals.com/Display.cfm?varID%3D0306003 | archivedate= 1 July 2011 | df= }}</ref> By the late 1970s, EJA was doing business with approximately 250 contract flying customers and logging more than three million miles per year. | |||
] | |||
] | |||
===1960s=== | |||
In 1984, Executive Jet Aviation was purchased by mathematician and former ] executive ] who owned a business that leased helicopters to service providers of offshore oil operations. When Santulli became chairman and CEO of the corporation, he closely examined 22 years of pilot logbooks and began to envision a new economic model where several individuals could own one aircraft. | |||
The company was founded in 1964 and originally known as ''Executive Jet Airways''. The name was later changed to ''Executive Jet Aviation'' (EJA), and again in 2002 to NetJets, after Berkshire Hathaway purchased it in 1998. NetJets was the first private business jet charter and aircraft management company in the world.<ref name="auto1"/> The idea came from retired Air Force Brigadier General Olbert F. "Dick" Lassiter, who had experience running the Air Mission Squadron, an air taxi service for the Air Force. The idea was to run a similar service for private companies, with a pool of corporate jets providing transportation instead of each company having to purchase and maintain their own plane.<ref name="Daughen1971" />{{Rp|page=177}} The founding members of the board of directors included ] generals ] and ], Washington lawyer and former military pilot ], and entertainers and pilots ] and ], with Lassiter serving as president and chairman of the board.<ref name="HouseComBank1972" /><ref>{{cite web|url= https://www.af.mil/About-Us/Biographies/Display/Article/106466/brigadier-general-olbert-f-lassiter/|title= Brigadier General Olbert F. Lassiter Retired January 01, 1965, Died December 06, 1973|access-date= 15 March 2021|work= af.mil|date= November 1963|archive-url= https://archive.today/20210331181355/https://www.af.mil/About-Us/Biographies/Display/Article/106466/brigadier-general-olbert-f-lassiter/|archive-date= 31 March 2021|url-status= live}}</ref><ref name="lassitersbail">{{cite web|url= https://www.nytimes.com/1972/08/30/archives/lassiters-bail-is-set-50000-bail-set-in-lassiter-case.html/|title= Lassiter's Bail Is Set|access-date= 31 March 2021|work= ]|date= 30 August 1972|archive-url= https://archive.today/20210331181639/https://www.nytimes.com/1972/08/30/archives/lassiters-bail-is-set-50000-bail-set-in-lassiter-case.html/|archive-date= 31 March 2021|url-status= live}}</ref> | |||
Shortly after its founding, EJA began receiving regular investments from the ], which were managed by accountant David Bevan. In June 1965, the railroad purchased a majority of shares in EJA, despite the fact that rail carriers were barred from owning air carriers by the ].<ref name="Daughen1971">{{Cite book |last=Daughen |first=Joseph R. |url=https://archive.org/details/wreckofpenncentr00daug |title=The Wreck of the Penn Central |last2=Binzen |first2=Peter |publisher=] |year=1971 |isbn=9780316095204 |edition=1st |location=] |url-access=registration}}</ref>{{Rp|page=183}} To hide the investments from the PRR board, Bevan made the payments through a subsidiary, the American Contract Company, which he was president of.<ref name="Daughen1971" />{{Rp|page=179}} | |||
In 1987, the NetJets program was officially announced becoming the first fractional aircraft ownership format in history. Around the same time, painted on every NetJets U.S. aircraft was a three-digit tail number punctuated with QS, symbolizing the revolutionary concept of selling Quarter Shares of an aircraft—a feature that is still representative of the NetJets brand today. | |||
EJA initially began operations in 1964 with a fleet of ten ] aircraft.<ref name="Worrels2001" /> The company soon moved to acquire competitors and larger aircraft, including two ] jets and two ] jets from ], but these could not be operated without approval from the ].<ref name="Daughen1971" />{{Rp|page=185}} The Pennsylvania Railroad argued its majority stake in EJA was legal as it consisted of non-voting stock, and anticipating approval from the CAB, EJA licensed its larger jets to foreign airlines. When the CAB instead ruled against EJA, the company now found itself deeply unprofitable, and the Pennsylvania Railroad attempted to sell off its stake. However, potential buyers lost interest after corporate spies for ] acquired and leaked information on EJA's illegal interests.<ref name="Daughen1971" />{{Rp|page=191}} The Pennsylvania Railroad merged into ] in 1968, and the search for a buyer continued. Penn Central and EJA were ultimately fined $70,000 by the CAB in 1969.<ref name="Daughen1971" />{{Rp|page=192}} | |||
One of the first quarter-share Owners of the Hawker 1000 was ] CEO, ], in 1995.<ref name="netjets1" /> He quickly determined the fractional ownership concept was the future of private aviation and in 1998, Berkshire Hathaway acquired EJA and NetJets Inc. | |||
In 1970, the trustee for Penn Central's EJA shares voted to oust Lassiter and replace him with ]. On July 1, the day before he was voted in as president, ] led a midnight raid on EJA's corporate offices with the assistance of ]. Lassiter attempted to retake the office with armed guards of his own shortly after, but they were stopped by Sundlun's guards.<ref name="Daughen1971" />{{Rp|page=177}} Lassiter was later sued for his role in diverting $21 million of PRR money into EJA, much of which had gone to his personal expenses.<ref name="lassitersbail" /><ref name="Daughen1971" />{{Rp|page=197}} Sundlun, ] and Joseph S. Sinclair bought out the Penn Central interest in EJA in 1972 and stabilized the company's finances. ] became president in 1976.<ref name="Tibbets2003" /><ref>{{cite web|url= https://www.reuters.com/article/us-tibbets-idUSN0143239820071101/|title= U.S. pilot who dropped Hiroshima bomb dies: report|access-date= 31 March 2021|work= ]|date= 1 November 2007|archive-url= https://archive.today/20210331184112/https://www.reuters.com/article/us-tibbets-idUSN0143239820071101/|archive-date= 31 March 2021|url-status= live}}</ref> | |||
NetJets soon expanded to Europe and then Russia, and by 2006 was the largest supplier of business jets in Europe and the ninth largest air carrier overall on the continent. | |||
===1980s=== | |||
In early August 2009 Santulli resigned as CEO and was replaced by ].<ref>{{cite web | url=http://www.springfieldnewssun.com/news/ohio-news/cuts-at-netjets-delay-expansion-plans-in-ohio-295975.html | title= Cuts at NetJets delay expansion plans in Ohio | accessdate= 3 October 2009}}</ref> NetJets Inc. has moved its corporate headquarters from New Jersey back to its original home in Columbus, Ohio, following the departure of the company's founder, Richard Santulli.<ref>{{cite web | url=http://globalbb.onesource.com/sharedscripts/text/getarticle.asp?id=AMX_MCTREGNEWS_36067903 | title= Netjets History | accessdate= 3 November 2009}}</ref> | |||
In 1984, Executive Jet Aviation was purchased by mathematician and former ] executive ] who owned a business that leased helicopters to service providers of offshore oil operations. When Santulli became chairman and CEO of the corporation, he closely examined 22 years of pilot logbooks, and began to envision a new economic model where several individuals could own one aircraft.<ref>{{cite web|url= https://www.bjtonline.com/business-jet-news/what-santulli-accomplished/|title= What Santulli accomplished|access-date= 28 March 2021|last= Burger|first= Jeff|work= Business Jet Traveler|date= October 2009|archive-url= https://web.archive.org/web/20150922210243/https://www.bjtonline.com/business-jet-news/what-santulli-accomplished|archive-date= 22 September 2015|url-status= live}}</ref> | |||
In 1987, the NetJets program was officially announced becoming the first fractional aircraft ownership format in history.<ref name="Worrels2001" /> Around the same time, painted on every NetJets US aircraft is a registration ending with QS, symbolizing the concept of selling quarter shares of an aircraft—a feature that is still representative of the NetJets brand today.<ref>{{cite web|url= https://books.google.com/books?id=tURRT6QU1jIC&q=netjets+quarter-share%2F&pg=PA97|title= Executive Jet|access-date= 28 March 2021|last= Collins|first= Richard L.|author-link= Richard L. Collins|work= ]|date= November 1998}}</ref><ref>{{cite web|url= https://books.google.com/books?id=gu1u7T9Lr7AC&q=netjets+%22quality+service%22%2F&pg=PA81|title= Buffett Air|access-date= 28 March 2021|last= Miles|first= Robert T.|work= ]|date= May 2002}}</ref> | |||
In 2010, NetJets acquired Marquis Jet from founders Jesse Itzler and Kenny Dichter. The prepaid Marquis Jet card allowed customers to purchase 25 hours of guaranteed flight time on the NetJets fleet. | |||
===1990s=== | |||
In September 2014, NetJets acquired approval to launch its aircraft charter service in ], having worked with Chinese authorities since 2012 to secure the operating certificate.<ref>{{cite press release | publisher=Reuters| date=23 September 2014| title= NetJets wins approval to launch China service | url= https://www.reuters.com/article/2014/09/23/us-berkshire-hatha-netjets-china-idUSKCN0HI2K020140923}}</ref> | |||
In 1998, Berkshire Hathaway acquired EJA and NetJets Inc from Richard Santulli for US$725 million, half of which was paid in stock.<ref>{{cite web|url= https://www.bloomberg.com/news/articles/2013-09-17/berkshire-billionaire-found-with-more-shares-than-gates/|title= Berkshire Billionaire Found With More Shares Than Gates|access-date= 15 March 2021|last= Teitelbaum|first= Richard|publisher= Bloomberg L.P.|date= 30 September 2013|archive-url= https://web.archive.org/web/20190513104642/https://www.bloomberg.com/news/articles/2013-09-17/berkshire-billionaire-found-with-more-shares-than-gates/|archive-date= 13 May 2019|url-status= live}}</ref> NetJets soon expanded to Europe and then Russia, and by 2006, it was the largest operator of business jets in Europe.<ref name="AirJournal2006" /> | |||
] | |||
== |
===2000s=== | ||
The company operated a fleet of nine ] ]s in the mid-2000s, since then sold off.{{Cn|date=September 2024}} | |||
] | |||
NetJets sells fractions of specific aircraft, chosen from several available types at the time of purchase. Owners then have guaranteed access (50–400 hours annually, depending on share size) to that aircraft with as little as four hours notice. If the Owner's aircraft is unavailable for some reason, another aircraft of the same type, or a larger aircraft, will be provided. Fractional Owners pay a monthly maintenance fee and an "occupied" hourly operating fee. The latter is charged only when an Owner or guest is on board, not when the aircraft is flying to a pick up point, or flying to another location after completing a flight. | |||
In early August 2009, Santulli resigned as CEO and was replaced by ]. Shortly afterward, NetJets moved its corporate headquarters from New Jersey back to its original home in ].<ref name="Springfield2009" /> | |||
For companies or individuals that require less than the minimum 50 flight hours and the five-year commitment of fractional ownership, they can buy flight hours in 25-hour increments via its Marquis Jet and NetJets jet card programs. <ref> https://privatejetcardcomparisons.com/netjets-marquis-jet/ Private Jet Card Comparisons </ref> | |||
== |
===2010s=== | ||
In 2010, NetJets acquired Marquis Jet from founders ] and ].<ref>{{cite web|url=https://www.forbes.com/sites/natalierobehmed/2014/01/14/how-to-pitch-successfully-from-rapper-turned-entrepreneur-jesse-itzler/|title=How To Pitch Successfully From Rapper-Turned-Entrepreneur Jesse Itzler|date=14 January 2014|author=Natalie Robehmed|website=] |access-date=31 March 2015}}</ref> The prepaid Marquis ] allowed customers to purchase 25 hours of guaranteed flight time on the NetJets fleet.<ref name="Reuters2010" /> | |||
NetJets has been involved in a tax dispute with the US ]. Commercial airlines are charged a tax per passenger ticket to pay for various ] activities. ] operations are not charged the same tax. The IRS has argued that the NetJets fractional ownership model is really disguised ] in some cases, and has assessed NetJets with unpaid taxes and penalties exceeding $366 million.<ref>{{cite news | url=https://www.bloomberg.com/news/2012-03-09/buffett-s-netjets-is-countersued-by-u-s-over-unpaid-taxes.html | title= Buffett’s NetJets Countersued by for Unpaid Taxes | publisher= Bloomberg | author=Andrew Harris | accessdate=9 March 2012}}</ref> NetJets has sued the IRS over this assessment and previously paid taxes and penalties exceeding $643 million.<ref>{{cite news | url=https://www.wsj.com/articles/SB10001424052970203611404577046374108267952 | title=Berkshire's NetJets Sues IRS Over Tax Bill | publisher=Wall Street Journal | author=Erik Holm | accessdate=9 March 2012}}</ref> The recent FAA re-authorization bill contains a provision that would (temporarily) address the issue by changing the law to support NetJets and other fractional ownership companies. | |||
On 11 June 2012, NetJets placed the largest aircraft order in private aviation history totaling US$17.6B. The company placed a firm order for 30 Bombardier Global 5000/6000 jets, 25 Bombardier Challenger 650 jets, 75 Bombardier Challenger 350s, 25 Cessna Citation Latitudes and 50 Embraer Phenom 300s.<ref name="Bombardier2012" /> As a part of this purchase agreement, it also placed conditional orders for an additional 40 Bombardier Global 5000/6000s, 50 Bombardier Challenger 650, 125 Bombardier Challenger 350s, 125 Cessna Citation Latitudes and 75 Embraer Phenom 300s. As a result of these orders NetJets became ]'s largest business jet fleet owner.<ref name="Cessna2012" /><ref name="Webarchive Wichita Eagle 2012">{{cite news |title=NetJets order big for Cessna, but impact may be delayed |last1=McMillin |first1=Molly |url=http://www.kansas.com/2012/06/13/2370894/netjets-order-big-for-cessna-but.html |work=The Wichita Eagle |date=13 June 2012 |access-date=26 February 2021|archive-url= https://web.archive.org/web/20120617041749/http://www.kansas.com/2012/06/13/2370894/netjets-order-big-for-cessna-but.html|archive-date= 17 June 2012|url-status= dead}}</ref> | |||
==Fleet== | |||
NetJets' fleet is the largest private jet fleet in the world with nearly 700 aircraft worldwide. Jets in their fleet are classified by cabin size: | |||
{{Col-begin}} | |||
{{Col-break}} | |||
'''Light Cabin''' | |||
* ] | |||
* ] | |||
* ] | |||
{{Col-break}} | |||
'''Midsized Cabin''' | |||
* ] | |||
* ] | |||
* ] | |||
* ] | |||
* ] | |||
* ] | |||
* ] | |||
In September 2014, NetJets acquired approval to launch its aircraft charter service in ], having worked with Chinese authorities since 2012 to secure the operating certificate.<ref name="Reuters2014" /> | |||
'''Large Cabin''' | |||
* ] | |||
* ] | |||
* ] | |||
* ]/] | |||
* ]/] | |||
{{col-end}} | |||
In 2015, the company's pilots picketed the Wynn resort in Las Vegas where company owner Warren Buffett was hosting some of his wealthiest customers. The event was symbolic of deteriorating labor relations within the company at this time.<ref>{{cite web|url= https://www.wsj.com/articles/netjets-unrest-puts-warren-buffett-in-a-rare-pinch-1420485740/|title= NetJets Unrest Puts Warren Buffett in a Rare Pinch |access-date= 31 March 2021|last= Das|first= Anupreeta|work= ]|date= 15 January 2015|archive-url= https://archive.today/20210331182317/https://www.wsj.com/articles/netjets-unrest-puts-warren-buffett-in-a-rare-pinch-1420485740/|archive-date= 31 March 2021|url-status= live}}</ref> | |||
===Purchase Order=== | |||
On June 11, 2012, NetJets placed the largest aircraft order in private aviation history totaling $17.6B. NetJets placed a firm order for 30 Bombardier Global 5000/6000 jets, 25 Bombardier Challenger 650 jets, 75 Bombardier Challenger 350<nowiki/>s, 25 Cessna Citation Latitude<nowiki/>s and 50 Embraer Phenom 300s.<ref>{{cite web |url=http://www.bombardier.com/en/corporate/media-centre/press-releases/details?docID=0901260d802184d8 |title=NetJets Orders Up to 275 Bombardier Challenger Business Jets |date=2012-06-11}}</ref> As a part of this purchase agreement, it also placed conditional orders for an additional 40 Bombardier Global 5000/6000s, 50 Bombardier Challenger 650, 125 Bombardier Challenger 350s, 125 Cessna Citation Latitudes and 75 Embraer Phenom 300s.<ref>{{cite web |url=http://www.kansas.com/2012/06/13/2370894/netjets-order-big-for-cessna-but.html |title=NetJets order big for Cessna, but impact may be delayed |date=2012-06-03}}</ref> | |||
The ] (IRS) had sought back taxes and penalties of $643 million from NetJets for periods beginning in 2003, including on its maintenance and service fees. NetJets filed a lawsuit challenging the IRS assessments. In January 2015, the United States District Court issued a decision in NetJets' favor, holding that the IRS assessments were unlawful.<ref name="govinfo" /><ref name="Reuters2015" /><ref>{{cite news|url= https://www.washingtonpost.com/news/fact-checker/wp/2017/12/06/does-the-senate-tax-bill-really-offer-a-tax-break-for-private-jets-as-key-democrats-claim//|title= Does the Senate tax bill really offer a tax break for private jets, as key Democrats claim?|access-date= 10 May 2021|last= Lewis|first= Nicole |newspaper= ]|date= 6 December 2017|archive-url= https://web.archive.org/web/20210118062144/https://www.washingtonpost.com/news/fact-checker/wp/2017/12/06/does-the-senate-tax-bill-really-offer-a-tax-break-for-private-jets-as-key-democrats-claim//|archive-date= 18 January 2021|url-status= live}}</ref> | |||
==NetJets companies== | |||
] | |||
*Executive Jet Management, Inc.: Manages on-demand air charter services, charter aircraft management, and aircraft management services. Based in ], ] | |||
*NetJets Aviation, Inc.: Operates all aircraft in the NetJets US fleet. Based in ]. | |||
*Marquis Jet Partners, Inc.: Sells the Marquis Jet Card prepaid flight hours package. Became a wholly owned subsidiary of NetJets in 2010. | |||
In 2019, a former NetJets pilot filed a lawsuit alleging that in March 2017, the company violated US Civil Right and Ohio anti-discrimination law when she was fired for being too short ({{convert|5|ft|2|in|cm}}) to properly control the rudders of an Embraer Phenom 300. She states that male pilots who were too tall were reassigned to different aircraft, while her employment was terminated without the opportunity to fly a different plane.<ref name="TooShort2019" /><ref name="tooshortparttwo" /><ref>{{cite web|url= https://www.foxnews.com/travel/female-pilot-suing-employer-too-short-fly-gloria-allred/|title= Female pilot suing former employer after being told she's 'too short' to fly; Gloria Allred representing|access-date= 10 May 2021|last= Puhak|first= Janine|publisher= ]|date= 14 August 2019|archive-url= https://web.archive.org/web/20190814152849/https://www.foxnews.com/travel/female-pilot-suing-employer-too-short-fly-gloria-allred/|archive-date= 14 August 2019|url-status= dead}}</ref> An Ohio federal judge ruled in favor of NetJets in 2022, citing the plaintiff's failure to prove sex discrimination.<ref>{{cite web|url=https://news.bloomberglaw.com/daily-labor-report/netjets-defeats-female-pilots-sex-bias-suit-over-short-stature|title=NetJets Defeats Female Pilot's Sex Bias Suit Over Short Stature|last= Dorrian|first= Patrick|publisher=Bloomberg Law|date= 2022-05-04|access-date=2023-09-07}}</ref> | |||
==Affiliated companies== | |||
] is a completely owned subsidiary based in ]. In March 2018 former Prada executive Mario Pacifico was appointed CEO of NetJets Europe. <ref> https://privatejetcardcomparisons.com/2018/03/21/netjets-europe-appoints-ex-prada-executive-ceo-brings-citation-latitude-to-london-city-airport/ Private Jet Card Comparisons </ref> | |||
===2020s=== | |||
In the spring of 2020, the company saw a boom in demand, as wealthy individuals sought to avoid the risks of airline flying during the ]. Previously, many potential customers had concerns about the optics of opulence and the environmental issues of private jet transport, but NetJets President of Sales, Marketing and Service, Patrick Gallagher noted in May 2020, that the health risks associated with flying on commercial airlines during the pandemic had trumped those concerns. The company introduced regular employee COVID-19 testing to try to contain the risks of an outbreak on its aircraft.<ref name="Sullivan30May20">{{cite web|url= https://www.nytimes.com/2020/05/30/your-money/coronavirus-private-jets.html/|title= Wealthy Fliers Worried About Coronavirus Turn to Private Jet Service|access-date= 11 April 2021|last= Sullivan|first= Paul|work= ]|date= 30 May 2020|archive-url= https://web.archive.org/web/20210304070806/https://www.nytimes.com/2020/05/30/your-money/coronavirus-private-jets.html/|archive-date= 4 March 2021|url-status= live}}</ref> | |||
In October 2020, the company made initial moves to reduce its ]. The company committed to buying "up to 3 million gallons" (11.4 million litres) of ] to be used at two of its bases, San Francisco and Columbus, Ohio. The company is also encouraging its customers to buy ] for their flights. The company will also buy its own offsets for its administration and training flights.<ref>{{cite web|url= https://www.flightglobal.com/business-aviation/netjets-makes-sustainable-fuel-promise/140645.article|title= NetJets makes sustainable fuel promise|access-date= 11 April 2021|last= Morrison|first= Murdo|work= ]|date= 16 October 2020|archive-url= https://web.archive.org/web/20210126192905/https://www.flightglobal.com/business-aviation/netjets-makes-sustainable-fuel-promise/140645.article|archive-date= 26 January 2021|url-status= live}}</ref> | |||
As of November 2020, almost half of the company's fleet was manufactured by Textron, and the rest by ] and ]. After reducing its delivery target for 2021 by more than half, due to decreased demand caused by the ] in 2020, the company expected to take delivery of 40 new aircraft in 2021 in anticipation of industry recovery.<ref name="Reuters Nov 2020">{{cite news |title=Buffett's NetJets sees boost in 2021 from nervous wealthy fliers |last1=Ajmera |first1=Ankit |url=https://www.reuters.com/article/us-netjets-deliveries-idUSKBN2801NP |work=Reuters |date=20 November 2020 |access-date=26 February 2021}}</ref> | |||
In February 2021, the company purchased a stake in WasteFuel, a business that will convert ] waste into ] (SAF). NetJets plans to purchase 100 million gallons of SAF from WasteFuel over the next 10 years as part of the deal.<ref name="Boatman16Feb21">{{cite web|url= https://www.flyingmag.com/story/news/netjets-clay-lacy-sustainability/|title= NetJets, Clay Lacy Aviation Make Moves Towards Sustainability|access-date= 9 June 2021|last= Boatman|first= Julie|work= ]|date= 16 February 2021|archive-url= https://archive.today/20210609005542/https://www.flyingmag.com/story/news/netjets-clay-lacy-sustainability/|archive-date= 9 June 2021|url-status= live}}</ref> | |||
In March 2021, NetJets announced that it had ordered 20 ]s supersonic business jets. The ] between NetJets and Aerion called for the two companies to operate a larger "Aerion Connect" network.<ref name="flight20210303">{{cite news |last1=Hemmerdinger |first1=Jon |title=NetJets takes purchase rights for 20 Aerion AS2 supersonics |url=https://www.flightglobal.com/airframers/netjets-takes-purchase-rights-for-20-aerion-as2-supersonics/142716.article |work=FlightGlobal |date=3 March 2021 |language=en}}</ref><ref>{{cite web|url=https://www.avweb.com/aviation-news/business-aviation-news/netjets-secures-options-for-20-supersonic-bizjets |title= NetJets Secures Options For 20 Supersonic Bizjets|access-date= 5 March 2021|last= O'Connor|first= Kate|work= AVweb|date= 3 March 2021|archive-url= https://archive.today/20220507184321/https://www.avweb.com/aviation-news/business-aviation-news/netjets-secures-options-for-20-supersonic-bizjets/|archive-date= 7 May 2022|url-status= live}}</ref> Aerion abruptly announced its closure on 21 May 2021, due to the inability to raise the needed capital to continue.<ref>{{Cite web|last=Sheetz|first=Michael|date=21 May 2021|title=Aerion Supersonic shuts down, ending plans to build silent high speed business jets|url=https://www.cnbc.com/2021/05/21/aerion-supersonic-shuts-down-ending-plans-for-silent-business-jets.html|access-date=8 June 2021|publisher=CNBC|language=en |archive-url= https://web.archive.org/web/20210521230636/https://www.cnbc.com/2021/05/21/aerion-supersonic-shuts-down-ending-plans-for-silent-business-jets.html|archive-date= 21 May 2021|url-status= live}}</ref> | |||
The company announced in March 2022, that it would partner with ] to establish an ] network in ]. NetJets will buy 150 ]s and operate them under a ] charter operation.<ref name="Niles06Mar22">{{cite web|url= https://www.avweb.com/aviation-news/netjets-to-buy-150-lilium-evtols/|title= NetJets To Buy 150 Lilium eVTOLs|access-date= 7 March 2022|last= Niles|first= Russ|work= AVweb|date= 6 March 2022|archive-url= https://archive.today/20220307132616/https://www.avweb.com/aviation-news/netjets-to-buy-150-lilium-evtols/|archive-date= 7 March 2022|url-status= live}}</ref> | |||
NetJets announced in September 2023, that it will be purchasing up to 1,500 ] jets from ]. Deliveries for this 15-year deal are expected to begin in 2025.<ref>{{Cite web |title=UP TO 1,500 JETS TO JOIN THE NETJETS FLEET |url=https://www.netjets.com/en-us/citation-ascend-announcement|access-date=2023-09-21 |website=netjets.com |language=en}}</ref> | |||
==Subsidiaries== | |||
NetJets Europe, also known by its corporate legal name, NetJets Transportes Aéreos, S.A., was launched in 1996 as a sister company of NetJets and is now a subsidiary.<ref name="NYT 6Dec1996">{{cite web |title=Jet Time-Sharing Flies to Europe |last1=Collis |first1=Roger |url=https://www.nytimes.com/1996/12/06/style/IHT-jet-timesharing-flies-to-europe.html |work=] |date=6 December 1996 |access-date=14 December 2021}}</ref> It is based in ], and serves more than 5,000 airports globally.<ref>{{cite web | url=http://www.manchestereveningnews.co.uk/news/greater-manchester-news/luxury-jet-company-netjets-europe-9445656 | title=Luxury jet company NetJets Europe launches new plane at Manchester Airport" Manchester Evening News | date=14 June 2015 | access-date=14 December 2021}}</ref> | |||
{{Infobox airline | |||
| airline = NetJets Europe | |||
| logo = NetJets logo.svg | |||
| ICAO = NJE | |||
| callsign = FRACTION | |||
| headquarters = ], ] | |||
| founded = {{Start date and age|1996|12|6|df=yes|p=yes|br=yes}}<br>]{{citation needed|date=December 2024|reason=unreliable source removed}} | |||
| aoc = N60F996F<ref name="EASA" /> | |||
| key_people = {{ubl|]: Mario Pacifico}} | |||
| parent = ] | |||
| destinations = ] | |||
| fleet_size = ~ 120 | |||
}} | |||
Also among NetJets subsidiaries is Executive Jet Management (EJM), based in Cincinnati, Ohio, which offers aircraft management and charter services. QS Partners is the whole-aircraft brokerage arm of NetJets, launched in 2016 and officing in Columbus, Ohio; Boulder, Colorado; and London; it also exclusively resells used aircraft from NetJets' fleet. QS Security Services was launched by NetJets in October 2019 with "tiered security packages" based on passenger needs and threat level at destination. Initially only available at Paris Le Bourget and in Mexico, future plans include worldwide coverage by 2023.<ref name="BJT Aug 2020">{{cite news |title=The Future of Air Charter |last1=Wynbrandt |first1=James |url=https://www.bjtonline.com/business-jet-news/the-future-of-air-charter |work=Business Jet Traveler |date=August 2020 |access-date=9 February 2021}}</ref> | |||
==Business model== | |||
{{Multiple image | |||
| direction = vertical | |||
| width = | |||
| image1 = NetJetsHQ from North 1.jpg | |||
| alt1 = The landside of the headquarters building | |||
| image2 = Netjets Hub.jpg | |||
| alt2 = The airside of the headquarters building | |||
| footer = NetJets headquarters at ]. | |||
}} | |||
NetJets sells fractions of specific aircraft, chosen from several available types at the time of purchase. Owners then have guaranteed access (50–400 hours annually, depending on share size) to that aircraft with as little as four hours' notice. If the owner's aircraft is unavailable for some reason, another aircraft of the same type, or a larger aircraft, will be provided.<ref name="WynbrandtJul20">{{cite web|url= https://www.bjtonline.com/business-jet-news/weighing-your-options-0|title= Weighing your options|access-date= 11 April 2021|last= Wynbrandt|first= Janes|work= Business Jet Traveler|date= July 2020|archive-url= https://web.archive.org/web/20201025051956/https://www.bjtonline.com/business-jet-news/weighing-your-options-0|archive-date= 25 October 2020|url-status= live}}</ref><ref name="Ajmera20Nov20">{{cite web|url= https://www.reuters.com/article/us-netjets-deliveries-idUSKBN2801NP/|title= Buffett's NetJets sees boost in 2021 from nervous wealthy fliers|access-date= 11 April 2021|last= Ajmera|first= Ankit |work= ]|date= 20 November 2020|archive-url= https://web.archive.org/web/20210101230826/https://www.reuters.com/article/us-netjets-deliveries-idUSKBN2801NP/|archive-date= 1 January 2021|url-status= live}}</ref> | |||
Fractional owners pay monthly maintenance fees for a minimum of 50 annual flight hours and a five-year commitment, as well as operating fees by the hour for use of aircraft. Alternatively, customers may buy flight hours in 25-hour increments by way of jet card programs.<ref name="Reuters2010">{{cite news | date= 4 November 2010 | title= Berkshire's NetJets Buys Marquis Jet Card Company | url= https://www.reuters.com/article/us-berkshire-netjets/berkshires-netjets-buys-marquis-jet-card-company-idUSTRE6A344W20101104 | url-status= live | work= ] | location= New York | archive-url= https://web.archive.org/web/20171125002018/http://www.reuters.com/article/us-berkshire-netjets/berkshires-netjets-buys-marquis-jet-card-company-idUSTRE6A344W20101104 | archive-date= 25 November 2017 | access-date= 20 October 2019 | quote= NEW YORK (Reuters) - NetJets Inc, the corporate aircraft unit of ] ] (BRKa.N) (BRKb.N), said on Thursday it bought Marquis Jet, which has a program that sells flight time on NetJets planes. Terms of the sale were not disclosed. | ref= Reuters2010}}</ref> Fractional owners also pay an occupied hourly operating fee, but it is charged only when an owner or guest is on board, not for ].<ref name="WynbrandtJul20"/><ref name="Ajmera20Nov20"/> | |||
NetJets is the largest fractional aircraft provider. In 2021 its fleet flew 478,444 hours.<ref name="CopleyFeb22"> | |||
{{cite web|url= https://www.sherpareport.com/aircraft/largest-fractional-2021.html|title= Largest Fractional Aircraft Ownership Companies in 2021|access-date= 24 February 2022| | |||
last= Copley|first= Nick|work= SherpaReport|date= 16 February 2022}} | |||
</ref> | |||
For companies or individuals that require less than the minimum 50 flight hours and the five-year commitment of fractional ownership, they can buy flight hours in 25-hour increments via the NetJets jet card programs.<ref name="Reuters2010" /> Due to a surge in demand for private aviation during the ], NetJets suspended its card program in August 2021.<ref>{{Cite web |last=Gollan |first=Doug |title=NetJets Hints Spring Restart For Jet Card Sales |url=https://www.forbes.com/sites/douggollan/2021/12/31/netjets-hints-spring-sales-restart-for-jet-cards/ |access-date=2024-08-14 |website=Forbes |language=en}}</ref> Sales restarted in March 2023. This program features "blackout" days, when service is not available due to expected high demand, such as on holidays or during major sporting events.<ref>{{Cite web |last=Gollan |first=Doug |title=NetJets, Wheels Up Make Program Changes |url=https://www.forbes.com/sites/douggollan/2023/03/22/netjets-wheels-up-make-program-changes/ |access-date=2024-08-14 |website=Forbes |language=en}}</ref> | |||
==Fleet== | |||
]]] | |||
]]] | |||
NetJets is the largest private jet operator in the world. | |||
The data below is limited to aircraft registered on the United States operating certificate. | |||
Additional aircraft not included in this data exist within the NetJets Europe, and Executive Jet Management fleet.<ref name="Flight15oct2018" /> | |||
The NetJets fleet {{as of|2024|07|31|lc=y}}: | |||
{| class="wikitable" | |||
!Aircraft Type | |||
!Number of Aircraft | |||
|- | |||
|]<ref>{{Cite web |author=NetJets |year=2021 |title=Light Private Jets |url=https://www.netjets.com/en-us/light-cabin-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|96 | |||
|- | |||
|]<ref>{{Cite web |author=NetJets |year=2021 |title=Light Private Jets |url=https://www.netjets.com/en-us/light-cabin-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|17 | |||
|- | |||
|]<ref name="auto3">{{Cite web |author=NetJets |year=2021 |title=Midsize Private Jets |url=https://www.netjets.com/en-us/midsize-cabin-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|54 | |||
|- | |||
|]<ref name="auto3" /> | |||
|36 | |||
|- | |||
|]<ref name="auto3" /> | |||
|191 | |||
|- | |||
|]<ref name="auto2" /> | |||
|64 | |||
|- | |||
|]<ref name="auto2">{{Cite web |author=NetJets |year=2021 |title=Super-Midsize Private Jets |url=https://www.netjets.com/en-us/super-midsize-cabin-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|75 | |||
|- | |||
|]<ref>{{Cite web |author=NetJets |year=2021 |title=Large Private Jets |url=https://www.netjets.com/en-us/large-cabin-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|46 | |||
|- | |||
|]<ref name="auto">{{Cite web |author=NetJets |year=2021 |title=Long-Range Private Jets |url=https://www.netjets.com/en-us/long-range-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|12 | |||
|- | |||
|]<ref name="auto">{{Cite web |author=NetJets |year=2021 |title=Long-Range Private Jets |url=https://www.netjets.com/en-us/long-range-private-jets |access-date=21 July 2021 |website=netjets.com}}</ref> | |||
|11 | |||
|- | |||
|]<ref name="auto" /> | |||
|23 | |||
|- | |||
|]<ref name="auto" /> | |||
|12 | |||
|- | |||
|Total Aircraft | |||
|637 | |||
|} | |||
As of March 2024, NetJets' global fleet included more than 750 aircraft. | |||
==Accidents and incidents== | ==Accidents and incidents== | ||
{| class="wikitable sortable" style="font-size:85%" | |||
NetJets has never had a fatal accident in its history. | |||
|+ NetJets reported incidents | |||
|- | |||
! Date | |||
! Flight | |||
! Aircraft | |||
! Location | |||
! class="unsortable"| Description | |||
! Fatal | |||
! Serious | |||
! Minor | |||
! Uninjured | |||
|- | |||
|align=center| {{dts|format=dmy|1970|05|09}} | |||
|align=left| N434EJ<ref name="1970Flight434ASN" /><br>(flying as Executive Jet Aviation) | |||
|align=center| ] | |||
|align=center| ] | |||
| ] while landing at ] {{airport codes|PLN|KPLN|PLN}}. ] President ], his wife May, and architect ] were killed in the crash.<ref name="N434EJ_Reuther_Obituary" /> | |||
|align=center| 6<ref name="1970Flight434ASN" /> | |||
|align=center| — | |||
|align=center| — | |||
|align=center| — | |||
|- | |||
|align=center| {{dts|format=dmy|1999|01|22}} | |||
|align=left| N782QS<ref name="1999Flight782ASN" /><ref name="1999Flight782NTSB" />(flying as Executive Jet Aviation) | |||
|align=center| ] | |||
|align=center| ] | |||
| During a training flight, the aircraft was landing at ] {{airport codes|CMH|KCMH|CMH}}, when the right main landing gear collapsed. Two certificated airline transport pilots, a company pilot, and a company intern were on board. Inadequate design of the landing gear was found to be the probable cause. | |||
|align=center| — | |||
|align=center| — | |||
|align=center| — | |||
|align=center| 4 | |||
|- | |||
|align=center| {{dts|format=dmy|2002|05|02}} | |||
|align=left| N397QS<ref name="2002Flight397NTSB" /><ref name="2002Flight397ASN" /> | |||
|align=center| ] | |||
|align=center| ] | |||
| Arriving from ] {{airport codes|HOU|KHOU|HOU}}, the aircraft landed more than halfway down the runway at Real County Airport {{airport codes|||49R}}. The aircraft overran the departure end of the runway and collided with trees. A post-impact fire consumed the aircraft after the crew and four passengers were able to evacuate. | |||
|align=center| — | |||
|align=center| — | |||
|align=center| — | |||
|align=center| 6 | |||
|- | |||
|align=center| {{dts|format=dmy|2006|08|28}} | |||
|align=left| N879QS<ref name="2006Flight879NTSB" /><ref name="2006Flight879ASN" /> | |||
|align=center| ] | |||
|align=center| ] | |||
| Netjets Flight 879 (N879QS) was a flight originating from ] {{airport codes|CLD|KCRQ|CRQ}}. While on approach to ] {{airport codes|RNO|KRNO|RNO}}, Flight 879 collided midair with a glider (N7729) {{convert|10|mi}} west-northwest of ], at an altitude of {{convert|16000|ft}} above sea level. Flight 879 landed safely with only minor injuries on board; the pilot of the glider parachuted to safety, but sustained minor injuries while landing. | |||
During the investigation, the pilot of the glider stated that glider's transponder was off in order to preserve the batteries for radio use.<ref name="2006Flight879NTSB" /> | |||
* On May 2, 2002, NetJets Flight 397, a Citation 560, landed more than halfway down the runway in Leakey, Texas. The aircraft overran the departure end of the runway and collided with trees. A post-impact fire consumed the aircraft after the crew and four passengers were able to evacuate.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20020510X00655&key=1|archiveurl=https://web.archive.org/web/20141215055118/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20020510X00655&key=1|archivedate=2014-12-15|title=FTW02LA136|publisher=National Transportation Safety Board}}</ref> | |||
|align=center| — | |||
* On November 25, 2003, NetJets Flight 632 landed with the nose gear retracted for undetermined reasons.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20031217X02055&key=1|archiveurl=https://web.archive.org/web/20141215054830/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20031217X02055&key=1|archivedate=2014-12-15|title=ATL04IA048|publisher=National Transportation Safety Board}}</ref> | |||
|align=center| — | |||
* On August 18, 2004, Netjets Flight 961 experienced a landing gear failure in landing at Jackson, Wyoming. The two passengers and two crew members were not injured.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief2.aspx?ev_id=20040831X01326&ntsbno=DEN04IA126&akey=1|archiveurl=https://web.archive.org/web/20141215055609/http://www.ntsb.gov/aviationquery/brief2.aspx?ev_id=20040831X01326&ntsbno=DEN04IA126&akey=1|archivedate=2014-12-15|title=DEN04IA126|publisher=National Transportation Safety Board}}</ref> | |||
|align=center| 2 + 1<ref name="2006Flight879NTSB" /> | |||
* On September 26, 2005, Netjets Flight 669 experienced a landing gear failure while taxiing for departure in Columbus, Ohio. The two crew members were not injured.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20051017X01658&key=1|archiveurl=https://web.archive.org/web/20141215054832/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20051017X01658&key=1|archivedate=2014-12-15|title=CHI05LA277|publisher=National Transportation Safety Board}}</ref> | |||
|align=center| 3<ref name="2006Flight879NTSB" /> | |||
* On January 5, 2006, the crew of Netjets Flight 391 failed to maintain adequate airspeed during landing at the Woodruff, Wisconsin, airport. The right wing contacted the runway; the aircraft departed the runway and impacted a snow bank. The two crew members and five passengers were uninjured.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20060109X00035&key=1|archiveurl=https://web.archive.org/web/20141215055024/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20060109X00035&key=1|archivedate=2014-12-15|title=CHI06LA058|publisher=National Transportation Safety Board}}</ref> | |||
|- | |||
* On August 28, 2006, Netjets Flight 879, a Hawker 800XP, collided mid-air with a glider over Smith, Nevada, while on approach to ]. Flight 879 landed safely with only minor injuries on board; the pilot of the glider parachuted to safety.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20060906X01297&key=1|archiveurl=https://web.archive.org/web/20141215054723/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20060906X01297&key=1|archivedate=2014-12-15|title=LAX06FA277A|publisher=National Transportation Safety Board}}</ref> | |||
|} | |||
* On May 27, 2011, NetJets Flight 749, a Gulfstream G-200, had one landing gear collapse after touchdown in Newburgh, New York.<ref>{{cite web|url=http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20110527X40414&key=1|archiveurl=https://web.archive.org/web/20121020012350/http://www.ntsb.gov/aviationquery/brief.aspx?ev_id=20110527X40414&key=1|archivedate=2012-10-20|title=ERA11IA316|publisher=National Transportation Safety Board}}</ref> | |||
* On July 23, 2014, NetJets Flight 731, a Gulfstream G-200, experienced a loss of control event upon landing in ] but came to rest at the edge of the runway.<ref>{{Cite web | date=July 24, 2014 | title=The Kathryn Report: Gulfstream G200, Netjets, N731QS: Incident occurred July 23, 2014 at Aspen-Pitkin County Airport/Sardy Field (KASE), Aspen, Colorado | url=http://www.thekathrynreport.com/2014/07/gulfstream-g200-netjets-n731qs-incident.html | website=TheKathrynReport.com | access-date=February 19, 2017}}</ref><ref>{{Cite web | date=July 24, 2014 | title=Plane skids off Sardy Field runway on landing | Aspen Daily News Online | url=http://www.aspendailynews.com/section/home/163143 | website=AspenDailyNews.com | publisher=Aspen Daily News | access-date=February 19, 2017}}</ref> | |||
==See also== | |||
* On September 19, 2014, NetJets Flight 322,<ref>{{cite web|url=http://flightaware.com/live/flight/EJA322/history/20140919/1206Z/KBNA/KCXO|title= Netjets Aviation #322 ✈ 19-Sep-2014 ✈ KBNA - KCXO|publisher=FlightAware.com|access-date=September 19, 2014}}</ref> an ] arriving from ], slid off the runway at ] (IATA: CXO) in ].<ref>{{cite web|url=http://www.click2houston.com/news/plane-slides-off-runway-at-regional-airport-in-conroe/28151238|title=Plane slides off runway at regional airport in Conroe|publisher=KPRC-TV|access-date=September 19, 2014}}</ref> The area had recently been inundated by the remains of ]. Neither the pilot or co-pilot were injured. | |||
*] | |||
*] | |||
*] | |||
*] | |||
*] | |||
*] | |||
*] | |||
*] | |||
==References== | ==References== | ||
{{Reflist|refs= | |||
{{reflist}} | |||
<ref name="NetJetsHistory01">{{cite web |url= https://www.netjets.com/en-us/leaders-in-private-aviation |title= NetJets: Leaders in private aviation |date= 5 October 2018 |website= netjets.com |access-date= 4 February 2021 |ref= NetJetsHistory01 |archive-url= https://web.archive.org/web/20200918175733/https://www.netjets.com/en-us/leaders-in-private-aviation |archive-date= 18 September 2020 |url-status= live }}</ref> | |||
<ref name="FAA">{{cite web |url= https://av-info.faa.gov/detail.asp?DSGN_CODE=DXTA401D |title= Federal Aviation Administration - Airline Certificate Information - Detail View |date= 16 September 2023 |website= faa.gov |agency= ] |archive-url= https://web.archive.org/web/20230917034139/https://av-info.faa.gov/detail.asp?DSGN_CODE=DXTA401D |archive-date= 17 September 2023 |url-status= live |access-date= 16 September 2023 |ref= FAA}}</ref> | |||
<ref name="NetjetsMarch2018">{{cite web |url= https://netjets-prod-corp-site-us-east-1.s3.amazonaws.com/public/webdam/web-assets/pdfs/2-0008-fastfacts-sellsheet-march-v1-67310602-v1.pdf |title= March 2018 NetJets Fast Facts |date= 1 March 2018 |website= amazonaws.com |publisher= NetJets |archive-url= https://web.archive.org/web/20191021024906/https://netjets-prod-corp-site-us-east-1.s3.amazonaws.com/public/webdam/web-assets/pdfs/2-0008-fastfacts-sellsheet-march-v1-67310602-v1.pdf |archive-date= 21 October 2019 |url-status= live |access-date= 20 October 2019 |ref= NetjetsMarch2018}}</ref> | |||
<ref name="HouseComBank1972">{{cite book |date= 1972 |title= The Penn Central Failure and the Role of Financial Institutions: Staff Report of the Committee on Banking and Currency, House of Representatives, 92d Congress, First Session | author = ] | publisher= ] |page= 58 |isbn= 978-0405003745 |oclc= 1020583347 |ol= OL22227843M |ref= HouseComBank1972}}</ref> | |||
<ref name="Worrels2001">{{cite journal |last1= Worrells |first1= D. Scott |last2= NewMyer |first2= David A. |last3= Ruiz |first3= Jose R. |date= 1 December 2001 |title= The Evolution of Fractional Ownership: A Literature Review |url= https://commons.erau.edu/cgi/viewcontent.cgi?article=1277&context=jaaer |format= PDF |journal= Journal of Aviation/Aerospace Education & Research |publisher= ] |volume= 10 |issue= 2 |pages= 41–59 |doi= 10.15394/jaaer.2001.1277 |issn= 1065-1136 |eissn= 2329-258X |oclc= 990400903 |archive-url= https://web.archive.org/web/20180721171501/https://commons.erau.edu/cgi/viewcontent.cgi?article=1277&context=jaaer |archive-date= 21 July 2018 |url-status= live |quote= Fractional ownership in its current form was launched in 1987. It evolved from a program that began in 1964 when the ] put up the capital to finance Executive Jet Airways. Ten Learjet 23's were purchased with the mission to sell "blocks of usage" providing customers with business jet transportation wherever they wanted to go. |ref= Worrels2001|doi-access= free }}</ref> | |||
<ref name="Tibbets2003">{{cite web |url= http://airportjournals.com/paul-tibbets-a-rendezvous-with-history-part-3/ |title= Paul Tibbets: A Rendezvous with History (part 3) |last= Freeze |first= Di |date= 1 June 2003 |website= airportjournals.com |publisher= Airport Journals |archive-url= https://web.archive.org/web/20150211123136/http://airportjournals.com/paul-tibbets-a-rendezvous-with-history-part-3/ |archive-date= 11 February 2015 |url-status= live |access-date= 21 October 2019 |quote= On April 21, 1976, ] became president of Executive Jet Aviation, Inc. |ref= Tibbets2003}}</ref> | |||
<ref name="AirJournal2006">{{cite web |url= http://airportjournals.com/netjets-and-dassault-ink-1-1-billion-deal/ |title= NetJets And Dassault Ink $1.1 Billion Deal |last= Holden |first= Henry M. |date= 6 November 2006 |website= airportjournals.com |publisher= Airport Journals |archive-url= https://web.archive.org/web/20170108152500/http://airportjournals.com/netjets-and-dassault-ink-1-1-billion-deal/ |archive-date= 8 January 2017 |url-status= live |access-date= 21 October 2019 |quote= Founded in 1996, NetJets Europe is the largest operator of business jets in Europe, with 100 jets and more than 1,200 customers. |ref= AirJournal2006}}</ref> | |||
<ref name="Springfield2009">{{cite news | date= 12 September 2009 | title= Cuts at NetJets delay expansion plans in Ohio | url= https://www.springfieldnewssun.com/news/ohio-news/cuts-at-netjets-delay-expansion-plans-in-ohio-295975.html | url-status= dead | work= ] | location= Columbus, Ohio | publisher= ] | agency= ] | issn= 0744-6101 | archive-url= https://web.archive.org/web/20110506150529/https://www.springfieldnewssun.com/news/ohio-news/cuts-at-netjets-delay-expansion-plans-in-ohio-295975.html | archive-date= 6 May 2011 | access-date= 20 October 2019 | quote= Sokol became CEO and chairman of NetJets in early August upon the abrupt resignation of longtime CEO Richard Santulli. Investor ], who controls parent company ], selected Sokol to help orchestrate a turnaround at NetJets. | ref= Springfield2009}}</ref> | |||
<ref name="Reuters2014">{{cite news | last1= Lopez | first1= Luciana | date= 23 September 2014 | title= NetJets wins approval to launch China service | url= https://www.reuters.com/article/us-berkshire-hatha-netjets-china/netjets-wins-approval-to-launch-china-service-idUSKCN0HI2K020140923 | url-status= live | work= ] | location= New York | archive-url= https://web.archive.org/web/20181211095733/https://www.reuters.com/article/us-berkshire-hatha-netjets-china/netjets-wins-approval-to-launch-china-service-idUSKCN0HI2K020140923 | archive-date= 11 December 2018 | access-date= 20 October 2019 | quote= NEW YORK (Reuters) - NetJets Inc , the private aircraft charter company owned by ] ] (BRKa.N), said on Tuesday that it had acquired approval to launch its aircraft charter service in China. | ref= Reuters2014}}</ref> | |||
<ref name="govinfo">{{cite web |url= https://www.govinfo.gov/app/details/USCOURTS-ohsd-2_11-cv-01023/USCOURTS-ohsd-2_11-cv-01023-5 |title= 11-1023 - NetJets Large Aircraft, Inc. et al v. United States of America |date= 26 January 2015 |website= govinfo.gov |publisher= ] |agency= ] |archive-url= https://web.archive.org/web/20191021204711/https://www.govinfo.gov/app/details/USCOURTS-ohsd-2_11-cv-01023/USCOURTS-ohsd-2_11-cv-01023-5/summary |archive-date= 21 October 2019 |url-status= live |access-date= 21 October 2019 |ref= govinfo}}</ref> | |||
<ref name="Reuters2015">{{cite news | last1= Stempel | first1= Jonathan | date= 27 January 2015 | title= Berkshire's NetJets defeats $500 million IRS tax claim | url= https://www.reuters.com/article/berkshire-netjets-tax-decision/berkshires-netjets-defeats-500-million-irs-tax-claim-idUSL1N0V611Z20150127 | url-status= live | work= ] | location= New York | archive-url= https://web.archive.org/web/20171206170341/https://www.reuters.com/article/berkshire-netjets-tax-decision/berkshires-netjets-defeats-500-million-irs-tax-claim-idUSL1N0V611Z20150127 | archive-date= 6 December 2017 | access-date= 20 October 2019 | quote= NEW YORK, Jan 27 (Reuters) - NetJets Inc, the private jet-sharing company owned by ] ], has defeated a U.S. ] lawsuit attempting to recoup more than $500 million of unpaid taxes, penalties and interest. | ref= Reuters2015}}</ref> | |||
<ref name="TooShort2019">{{cite news | last1= Weiker | first1= Jim | date= 15 August 2019 | title= Pilot says NetJets fired her because of her height | url= https://www.dispatch.com/business/20190815/pilot-says-netjets-fired-her-because-of-her-height | url-status= live | work= ] | issn= 1074-097X | archive-url= https://web.archive.org/web/20190815191837/https://www.dispatch.com/business/20190815/pilot-says-netjets-fired-her-because-of-her-height | archive-date= 15 August 2019 | access-date= 20 October 2019 | quote= After passing the initial flight test, Drerup "struggled to maintain control" of an Embraer Phenom 300 plane during a flight simulation. Her instructor told her she was too short, at 5 feet 2 inches, to properly control the rudders. | ref= TooShort2019}}</ref> | |||
<ref name="tooshortparttwo">{{cite news | last1= Solis | first1= Nathan | date= 13 August 2019 | title= Too Short to Fly: Female Pilot Sues Charter Over Firing | url= https://www.courthousenews.com/too-short-to-fly-female-pilot-sues-charter-over-firing/ | url-status= live | work= ] | archive-url= https://web.archive.org/web/20190814024543/https://www.courthousenews.com/too-short-to-fly-female-pilot-sues-charter-over-firing/ | archive-date= 14 August 2019 | access-date= 25 November 2019 | quote= Drerup is 5 feet 2 inches tall, and claims she’s been rated to fly five other planes – including two NetJets has in its fleet. | ref= tooshortparttwo}}</ref> | |||
<ref name="Flight15oct2018">{{cite web |url= https://www.flightglobal.com/news/articles/nbaa-netjets-in-deal-for-325-cessna-longitude-and-h-452683/ |title= NBAA: NetJets in deal for 325 Cessna Longitude and Hemisphere jets |last= Sarsfield |first= Kate |date= 15 October 2018 |work= ]|publisher= FLIGHT DAILY NEWS |archive-url= https://web.archive.org/web/20181103071905/https://www.flightglobal.com/news/articles/nbaa-netjets-in-deal-for-325-cessna-longitude-and-h-452683/ |archive-date= 3 November 2018 |url-status= live |access-date= 21 October 2019 |quote= NetJets is the largest business aircraft operator in the world with a fleet of over 520 aircraft. |ref= Flight15oct2018}}</ref> | |||
<ref name="Bombardier2012">{{cite press release |date= 11 June 2012 |title= NetJets Orders Up to 275 Bombardier Challenger Business Jets |url= https://www.bombardier.com/en/media/newsList/details.36112-netjets-orders-up-to-275-bombardier-challenger-business-jets.bombardiercom.html |url-status= live |type= Press release |location= ] |publisher= ] |archive-url= https://web.archive.org/web/20181214080457/https://www.bombardier.com/en/media/newsList/details.36112-netjets-orders-up-to-275-bombardier-challenger-business-jets.bombardiercom.html |archive-date= 14 December 2018 |access-date= 20 October 2019 |quote= Today, just over one year after the largest business aircraft sale in its history, Bombardier Aerospace surpassed that record, announcing a firm order from NetJets Inc. for 100 Challenger business jets with options for an additional 175 aircraft. |ref= Bombardier2012}}</ref> | |||
<ref name="Cessna2012">{{cite news | last1= MCMILLIN | first1= MOLLY | date= 13 June 2012 | title= NetJets order big for Cessna, but impact may be delayed | url= https://www-1.kansas.com/news/business/aviation/article1093694.html | url-status= live | department= Aviation | work= ] | issn= 1046-3127 | oclc= 20386511 | archive-url= https://web.archive.org/web/20120617041749/http://www.kansas.com/2012/06/13/2370894/netjets-order-big-for-cessna-but.html | archive-date= 17 June 2012 | access-date= 20 October 2019 | quote= NetJets’ order for up to 150 mid-size Citation Latitude business jets from Cessna Aircraft is the company’s largest order for any single model of aircraft. | ref= Cessna2012}}</ref> | |||
<!-- | |||
<ref name="NetJetsEU">{{cite news | last1 = Campos | first1 = Anabela | date = 8 May 2019 | title = Elton d'Sousa trocou TAP pela presidência da NetJets Europe | trans-title = Elton d'Sousa swapped TAP for NetJets Europe presidency | url = https://expresso.pt/economia/2019-08-05-Elton-dSousa-trocou-TAP-pela-presidencia-da-NetJets-Europe | url-status = live | work = ] | language = pt | publisher = ] | issn = 0870-1970 | archive-url = https://web.archive.org/web/20190806153348/https://expresso.pt/economia/2019-08-05-Elton-dSousa-trocou-TAP-pela-presidencia-da-NetJets-Europe | archive-date = 6 August 2019 | access-date = 10 December 2019 | quote = Elton d'Souza foi um dos gestores trazidos para a TAP pelo acionista privado da companhia David Neeleman. Esteve na TAP durante três anos e sete meses, e quando deixou a empresa era o líder da área de geração de receitas. Agora é presidente da NetJets Europe, empresa de jatos privados, com sede em Portugal, segundo se lê na rede Linkedin. | ref = NetJetsEU}}</ref> | |||
--> | |||
<!-- N434EJ references --> | |||
<ref name="1970Flight434ASN">{{ASN accident |19700509-1 |type=Accident |title=ASN Aircraft accident Learjet 23 N434EJ Pellston-Emmet County Airport, MI (PLN) |wikibase=no |accessdate= 26 October 2019 }}</ref> | |||
<ref name="N434EJ_Reuther_Obituary">{{cite news | date = 11 May 1970 | title = Reuther Dies in Jet Crash With Wife and 4 Others | url = https://www.nytimes.com/1970/05/11/archives/reuther-dies-in-jet-crash-with-wife-and-4-others-labor-leader-was.html | page = 1 | volume = CXIX | issue = 41015 | edition = Late City | url-status = live | work = ] | location = ], ] | issn = 0362-4331 | eissn = 1553-8095 | oclc = 1645522 | archive-url = https://web.archive.org/web/20210626000909/https://www.nytimes.com/1970/05/11/archives/reuther-dies-in-jet-crash-with-wife-and-4-others-labor-leader-was.html | archive-date = 26 June 2021 | access-date = 7 February 2022 | quote = DETROIT, May 10--Walter P. Reuther, the president of the United Automobile Workers, and his wife, May, died last night in a plane crash in northern Michigan. Mr. Reuther was 62 years old, and his wife was 59. Four other persons were also killed when the chartered Lear-Jet crashed in flames near Pellston, Mich., 260 miles northwest of Detroit, at 9:33 P.M. Michigan time (10:33 P.M. New York time). | ref = N434QS_Reuther_Obituary}}</ref> | |||
<!-- N782QS references --> | |||
<ref name="1999Flight782ASN">{{ASN accident |19990122-0 |type=Accident |title=ASN Aircraft accident Cessna 650 Citation VII N782QS Columbus-Port Columbus International Airport, OH (CMH) |wikibase=no |accessdate= 10 December 2019 }}</ref> | |||
<ref name="1999Flight782NTSB">{{cite web | url = https://reports.aviation-safety.net/1999/19990122-0_C650_N782QS.pdf | title = National Transportation Safety Board Aviation Incident Final Report: NYC99LA051 | date = 22 June 2000 | website = ntsb.gov | agency = ] | archive-url = https://web.archive.org/web/20191210161752/https://reports.aviation-safety.net/1999/19990122-0_C650_N782QS.pdf | archive-date = 10 December 2019 | url-status = live | access-date = 10 December 2019 | ref = 1999Flight879NTSB}}</ref> | |||
<!-- N397QS references --> | |||
<ref name="2002Flight397NTSB">{{cite web |url= https://ntsb.gov/_layouts/ntsb.aviation/brief2.aspx?ev_id=20020510X00655&ntsbno=FTW02LA136&akey=1 |title= NTSB: FTW02LA136 (Full Narrative)(N397QS) |website= ntsb.gov |agency= ] |archive-url= https://web.archive.org/web/20170506135337/https://ntsb.gov/_layouts/ntsb.aviation/brief2.aspx?ev_id=20020510X00655&ntsbno=FTW02LA136&akey=1 |archive-date= 6 May 2017 |url-status= live |access-date= 21 October 2019 |ref= 2002Flight397NTSB}}</ref> | |||
<ref name="2002Flight397ASN">{{ASN accident |id=20020502-0 |type=Accident |title=ASN Aircraft accident Cessna 560 Citation Ultra N397QS Leakey, TX |wikibase=no |accessdate= 22 October 2019 }}</ref> | |||
<!-- N879QS references --> | |||
<ref name="2006Flight879NTSB">{{cite web |url= https://app.ntsb.gov/pdfgenerator/ReportGeneratorFile.ashx?EventID=20060906X01297&AKey=1&RType=HTML&IType=FA |title= National Transportation Safety Board Aviation Incident Final Report: LAX06FA277A |date= 20 March 2008 |website= ntsb.gov |agency= ] |access-date= 22 October 2019 |ref= 2006Flight879NTSB}}</ref> | |||
<ref name="2006Flight879ASN">{{ASN accident |id=20060828-1 |type=Accident |title=ASN Aircraft accident Raytheon Hawker 800XP N879QS Carson City, NV |wikibase=no |accessdate= 22 October 2019 }}</ref> | |||
}} | |||
== External links == | == External links == | ||
{{commons category|NetJets}} | {{commons category|NetJets}} | ||
* {{Official website}} | |||
{{Portal|Aviation}} | |||
* | |||
{{Portalbar|United States|Ohio|Companies|Aviation}} | |||
{{Airlines of the United States|state=collapsed}} | |||
{{Berkshire Hathaway}} | {{Berkshire Hathaway}} | ||
{{Airlines of the United States}} | |||
] | ] | ||
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Latest revision as of 13:15, 30 December 2024
Private business jet charter and aircraft management company For the first commercially available web accelerator, see NetJet.
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Founded | 21 May 1964 (60 years ago) (1964-05-21) United States | ||||||
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AOC # | DXTA401D | ||||||
Subsidiaries |
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Fleet size | 637 (July 2024) | ||||||
Destinations | Point to point | ||||||
Parent company | Berkshire Hathaway | ||||||
Headquarters | Columbus, Ohio, United States | ||||||
Key people | |||||||
Employees | 7,000 | ||||||
Website | www |
NetJets Inc. is an American company that sells fractional ownership shares in private business jets.
Founded as Executive Jet Airways in 1964, it was later renamed Executive Jet Aviation. NetJets became the first private business jet charter and aircraft management company in the world. It launched its fractional ownership business in 1986 and became a subsidiary of Berkshire Hathaway in 1998.
History
1960s
The company was founded in 1964 and originally known as Executive Jet Airways. The name was later changed to Executive Jet Aviation (EJA), and again in 2002 to NetJets, after Berkshire Hathaway purchased it in 1998. NetJets was the first private business jet charter and aircraft management company in the world. The idea came from retired Air Force Brigadier General Olbert F. "Dick" Lassiter, who had experience running the Air Mission Squadron, an air taxi service for the Air Force. The idea was to run a similar service for private companies, with a pool of corporate jets providing transportation instead of each company having to purchase and maintain their own plane. The founding members of the board of directors included US Air Force generals Curtis E. LeMay and Paul Tibbets, Washington lawyer and former military pilot Bruce Sundlun, and entertainers and pilots James Stewart and Arthur Godfrey, with Lassiter serving as president and chairman of the board.
Shortly after its founding, EJA began receiving regular investments from the Pennsylvania Railroad, which were managed by accountant David Bevan. In June 1965, the railroad purchased a majority of shares in EJA, despite the fact that rail carriers were barred from owning air carriers by the Federal Aviation Act of 1958. To hide the investments from the PRR board, Bevan made the payments through a subsidiary, the American Contract Company, which he was president of.
EJA initially began operations in 1964 with a fleet of ten Learjet 23 aircraft. The company soon moved to acquire competitors and larger aircraft, including two 707 jets and two 727 jets from Boeing, but these could not be operated without approval from the Civil Aeronautics Board. The Pennsylvania Railroad argued its majority stake in EJA was legal as it consisted of non-voting stock, and anticipating approval from the CAB, EJA licensed its larger jets to foreign airlines. When the CAB instead ruled against EJA, the company now found itself deeply unprofitable, and the Pennsylvania Railroad attempted to sell off its stake. However, potential buyers lost interest after corporate spies for Pan Am acquired and leaked information on EJA's illegal interests. The Pennsylvania Railroad merged into Penn Central in 1968, and the search for a buyer continued. Penn Central and EJA were ultimately fined $70,000 by the CAB in 1969.
In 1970, the trustee for Penn Central's EJA shares voted to oust Lassiter and replace him with Bruce Sundlun. On July 1, the day before he was voted in as president, Sundlun led a midnight raid on EJA's corporate offices with the assistance of Pinkertons. Lassiter attempted to retake the office with armed guards of his own shortly after, but they were stopped by Sundlun's guards. Lassiter was later sued for his role in diverting $21 million of PRR money into EJA, much of which had gone to his personal expenses. Sundlun, Robert L. Scott Jr. and Joseph S. Sinclair bought out the Penn Central interest in EJA in 1972 and stabilized the company's finances. Paul Tibbets became president in 1976.
1980s
In 1984, Executive Jet Aviation was purchased by mathematician and former Goldman Sachs executive Richard Santulli who owned a business that leased helicopters to service providers of offshore oil operations. When Santulli became chairman and CEO of the corporation, he closely examined 22 years of pilot logbooks, and began to envision a new economic model where several individuals could own one aircraft.
In 1987, the NetJets program was officially announced becoming the first fractional aircraft ownership format in history. Around the same time, painted on every NetJets US aircraft is a registration ending with QS, symbolizing the concept of selling quarter shares of an aircraft—a feature that is still representative of the NetJets brand today.
1990s
In 1998, Berkshire Hathaway acquired EJA and NetJets Inc from Richard Santulli for US$725 million, half of which was paid in stock. NetJets soon expanded to Europe and then Russia, and by 2006, it was the largest operator of business jets in Europe.
2000s
The company operated a fleet of nine Boeing 737-700 Boeing Business Jets in the mid-2000s, since then sold off.
In early August 2009, Santulli resigned as CEO and was replaced by David Sokol. Shortly afterward, NetJets moved its corporate headquarters from New Jersey back to its original home in Columbus, Ohio.
2010s
In 2010, NetJets acquired Marquis Jet from founders Jesse Itzler and Kenny Dichter. The prepaid Marquis Jet card allowed customers to purchase 25 hours of guaranteed flight time on the NetJets fleet.
On 11 June 2012, NetJets placed the largest aircraft order in private aviation history totaling US$17.6B. The company placed a firm order for 30 Bombardier Global 5000/6000 jets, 25 Bombardier Challenger 650 jets, 75 Bombardier Challenger 350s, 25 Cessna Citation Latitudes and 50 Embraer Phenom 300s. As a part of this purchase agreement, it also placed conditional orders for an additional 40 Bombardier Global 5000/6000s, 50 Bombardier Challenger 650, 125 Bombardier Challenger 350s, 125 Cessna Citation Latitudes and 75 Embraer Phenom 300s. As a result of these orders NetJets became Cessna's largest business jet fleet owner.
In September 2014, NetJets acquired approval to launch its aircraft charter service in China, having worked with Chinese authorities since 2012 to secure the operating certificate.
In 2015, the company's pilots picketed the Wynn resort in Las Vegas where company owner Warren Buffett was hosting some of his wealthiest customers. The event was symbolic of deteriorating labor relations within the company at this time.
The Internal Revenue Service (IRS) had sought back taxes and penalties of $643 million from NetJets for periods beginning in 2003, including on its maintenance and service fees. NetJets filed a lawsuit challenging the IRS assessments. In January 2015, the United States District Court issued a decision in NetJets' favor, holding that the IRS assessments were unlawful.
In 2019, a former NetJets pilot filed a lawsuit alleging that in March 2017, the company violated US Civil Right and Ohio anti-discrimination law when she was fired for being too short (5 feet 2 inches (157 cm)) to properly control the rudders of an Embraer Phenom 300. She states that male pilots who were too tall were reassigned to different aircraft, while her employment was terminated without the opportunity to fly a different plane. An Ohio federal judge ruled in favor of NetJets in 2022, citing the plaintiff's failure to prove sex discrimination.
2020s
In the spring of 2020, the company saw a boom in demand, as wealthy individuals sought to avoid the risks of airline flying during the COVID-19 pandemic. Previously, many potential customers had concerns about the optics of opulence and the environmental issues of private jet transport, but NetJets President of Sales, Marketing and Service, Patrick Gallagher noted in May 2020, that the health risks associated with flying on commercial airlines during the pandemic had trumped those concerns. The company introduced regular employee COVID-19 testing to try to contain the risks of an outbreak on its aircraft.
In October 2020, the company made initial moves to reduce its carbon footprint. The company committed to buying "up to 3 million gallons" (11.4 million litres) of sustainable aviation fuel to be used at two of its bases, San Francisco and Columbus, Ohio. The company is also encouraging its customers to buy carbon offsets for their flights. The company will also buy its own offsets for its administration and training flights.
As of November 2020, almost half of the company's fleet was manufactured by Textron, and the rest by Bombardier Inc. and Embraer. After reducing its delivery target for 2021 by more than half, due to decreased demand caused by the COVID-19 pandemic in 2020, the company expected to take delivery of 40 new aircraft in 2021 in anticipation of industry recovery.
In February 2021, the company purchased a stake in WasteFuel, a business that will convert landfill waste into sustainable aviation fuel (SAF). NetJets plans to purchase 100 million gallons of SAF from WasteFuel over the next 10 years as part of the deal.
In March 2021, NetJets announced that it had ordered 20 Aerion AS2s supersonic business jets. The memorandum of understanding between NetJets and Aerion called for the two companies to operate a larger "Aerion Connect" network. Aerion abruptly announced its closure on 21 May 2021, due to the inability to raise the needed capital to continue.
The company announced in March 2022, that it would partner with Lilium GmbH to establish an eVTOL network in Florida. NetJets will buy 150 Lilium Jets and operate them under a FAR Part 135 charter operation.
NetJets announced in September 2023, that it will be purchasing up to 1,500 Cessna Citation jets from Textron Aviation. Deliveries for this 15-year deal are expected to begin in 2025.
Subsidiaries
NetJets Europe, also known by its corporate legal name, NetJets Transportes Aéreos, S.A., was launched in 1996 as a sister company of NetJets and is now a subsidiary. It is based in Oeiras, Portugal, and serves more than 5,000 airports globally.
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Founded | 6 December 1996 (28 years ago) (1996-12-06) Portugal | ||||||
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AOC # | N60F996F | ||||||
Fleet size | ~ 120 | ||||||
Destinations | Point to point | ||||||
Parent company | NetJets | ||||||
Headquarters | Lisbon, Portugal | ||||||
Key people |
|
Also among NetJets subsidiaries is Executive Jet Management (EJM), based in Cincinnati, Ohio, which offers aircraft management and charter services. QS Partners is the whole-aircraft brokerage arm of NetJets, launched in 2016 and officing in Columbus, Ohio; Boulder, Colorado; and London; it also exclusively resells used aircraft from NetJets' fleet. QS Security Services was launched by NetJets in October 2019 with "tiered security packages" based on passenger needs and threat level at destination. Initially only available at Paris Le Bourget and in Mexico, future plans include worldwide coverage by 2023.
Business model
NetJets headquarters at John Glenn Columbus International Airport.NetJets sells fractions of specific aircraft, chosen from several available types at the time of purchase. Owners then have guaranteed access (50–400 hours annually, depending on share size) to that aircraft with as little as four hours' notice. If the owner's aircraft is unavailable for some reason, another aircraft of the same type, or a larger aircraft, will be provided.
Fractional owners pay monthly maintenance fees for a minimum of 50 annual flight hours and a five-year commitment, as well as operating fees by the hour for use of aircraft. Alternatively, customers may buy flight hours in 25-hour increments by way of jet card programs. Fractional owners also pay an occupied hourly operating fee, but it is charged only when an owner or guest is on board, not for ferry flights.
NetJets is the largest fractional aircraft provider. In 2021 its fleet flew 478,444 hours.
For companies or individuals that require less than the minimum 50 flight hours and the five-year commitment of fractional ownership, they can buy flight hours in 25-hour increments via the NetJets jet card programs. Due to a surge in demand for private aviation during the COVID-19 pandemic, NetJets suspended its card program in August 2021. Sales restarted in March 2023. This program features "blackout" days, when service is not available due to expected high demand, such as on holidays or during major sporting events.
Fleet
NetJets is the largest private jet operator in the world.
The data below is limited to aircraft registered on the United States operating certificate.
Additional aircraft not included in this data exist within the NetJets Europe, and Executive Jet Management fleet. The NetJets fleet as of 31 July 2024:
Aircraft Type | Number of Aircraft |
---|---|
Embraer Phenom 300 | 96 |
Embraer Phenom 300E | 17 |
Cessna Citation XLS | 54 |
Cessna Citation Sovereign | 36 |
Cessna Citation Latitude | 191 |
Cessna Citation Longitude | 64 |
Bombardier Challenger 350 | 75 |
Bombardier Challenger 650 | 46 |
Bombardier Global 5000 | 12 |
Bombardier Global 5500 | 11 |
Bombardier Global 6000 | 23 |
Bombardier Global 7500 | 12 |
Total Aircraft | 637 |
As of March 2024, NetJets' global fleet included more than 750 aircraft.
Accidents and incidents
Date | Flight | Aircraft | Location | Description | Fatal | Serious | Minor | Uninjured |
---|---|---|---|---|---|---|---|---|
9 May 1970 | N434EJ (flying as Executive Jet Aviation) |
Learjet 23 | Pellston, Michigan | Controlled flight into terrain while landing at Pellston-Emmet County Airport (IATA: PLN, ICAO: KPLN, FAA LID: PLN). UAW President Walter Reuther, his wife May, and architect Oscar Stonorov were killed in the crash. | 6 | — | — | — |
22 January 1999 | N782QS(flying as Executive Jet Aviation) | Cessna 650 Citation VII | Columbus, Ohio | During a training flight, the aircraft was landing at Port Columbus International Airport (IATA: CMH, ICAO: KCMH, FAA LID: CMH), when the right main landing gear collapsed. Two certificated airline transport pilots, a company pilot, and a company intern were on board. Inadequate design of the landing gear was found to be the probable cause. | — | — | — | 4 |
2 May 2002 | N397QS | Cessna Citation 560 | Leakey, Texas | Arriving from Houston Hobby (IATA: HOU, ICAO: KHOU, FAA LID: HOU), the aircraft landed more than halfway down the runway at Real County Airport (FAA LID: 49R). The aircraft overran the departure end of the runway and collided with trees. A post-impact fire consumed the aircraft after the crew and four passengers were able to evacuate. | — | — | — | 6 |
28 August 2006 | N879QS | Hawker 800XP | Smith, Nevada | Netjets Flight 879 (N879QS) was a flight originating from McClellan–Palomar Airport (IATA: CLD, ICAO: KCRQ, FAA LID: CRQ). While on approach to Reno–Tahoe International Airport (IATA: RNO, ICAO: KRNO, FAA LID: RNO), Flight 879 collided midair with a glider (N7729) 10 miles (16 km) west-northwest of Smith, Nevada, at an altitude of 16,000 feet (4,900 m) above sea level. Flight 879 landed safely with only minor injuries on board; the pilot of the glider parachuted to safety, but sustained minor injuries while landing.
During the investigation, the pilot of the glider stated that glider's transponder was off in order to preserve the batteries for radio use. |
— | — | 2 + 1 | 3 |
See also
- AirSprint
- Air taxi
- Flexjet
- Fractional ownership of aircraft
- List of charter airlines
- PlaneSense
- VistaJet
- Wheels Up
References
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NetJets, founded by three retired military pilots in 1964 as Executive Jet Aviation, is the granddaddy of fractional ownership and private jets. Since its inception, it has grown from a fleet of ten Learjet 23 aircraft to 10 types of planes and nearly 700 aircraft worldwide—the world's largest private jet fleet.
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Founded in 1996, NetJets Europe is the largest operator of business jets in Europe, with 100 jets and more than 1,200 customers.
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NEW YORK (Reuters) - NetJets Inc, the corporate aircraft unit of Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N), said on Thursday it bought Marquis Jet, which has a program that sells flight time on NetJets planes. Terms of the sale were not disclosed.
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Today, just over one year after the largest business aircraft sale in its history, Bombardier Aerospace surpassed that record, announcing a firm order from NetJets Inc. for 100 Challenger business jets with options for an additional 175 aircraft.
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NetJets' order for up to 150 mid-size Citation Latitude business jets from Cessna Aircraft is the company's largest order for any single model of aircraft.
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After passing the initial flight test, Drerup "struggled to maintain control" of an Embraer Phenom 300 plane during a flight simulation. Her instructor told her she was too short, at 5 feet 2 inches, to properly control the rudders.
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DETROIT, May 10--Walter P. Reuther, the president of the United Automobile Workers, and his wife, May, died last night in a plane crash in northern Michigan. Mr. Reuther was 62 years old, and his wife was 59. Four other persons were also killed when the chartered Lear-Jet crashed in flames near Pellston, Mich., 260 miles northwest of Detroit, at 9:33 P.M. Michigan time (10:33 P.M. New York time).
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