On the last day of Geneva’s EBACE show in Switzerland, we take a closer look at NetJets. The worldwide leader in private aviation presented their Challenger 350 for the first time in Europe. The company has ordered 75 units of the 10-seater jet complete with club sofas and HD screens from Bombardier, because NetJets, founded in 1986 in the United States, and bought a few years later by US billionaire Warren Buffett, has a huge appetite. The group currently has more than 700 American, Canadian, French and Brazilian business jets in its fleet, acquired through an unusual business model.
Jordan Hansell, Chief Executive Officer - NetJets: interview in the video.
Thereby becoming a sort of jet part-owner. By buying one sixteenth of an aircraft, the owner acquires 50 hours of flight, including crew, from 5,000 airports worldwide. NetJets remains discreet regarding the cost, but do state that this can vary greatly, depending on the ‘plane and selected services.
The co-owner can of course add extra flying hours. According to our information, additional time would be charged at between 5,000 and 13,000 euros.
An alternative is to buy a "card", entitling the purchaser to 25 hours on one of NetJets’ fleet aircraft, for somewhere around 140,000 euros.
Whether it be shared ownership or business jet rental, the concept works. NetJets now has 7,600 co-owners and rental clients on their books. Present in Europe, the US and China, the company generates most of its turnover on US soil, and 25% in Europe.