NetJets Europe

From Wikipedia, the free encyclopedia
Jump to: navigation, search

NetJets Europe offers fractional ownership of private business jets.

NetJets Europe
IATA
1I
ICAO
NJE
Callsign
FRACTION
Founded 1996
Fleet size 165
Destinations Point to point
Headquarters Paço de Arcos, Portugal
Key people Mark Wilson, Eric Connor, David Sokol, Warren Buffett
Website http://www.netjetseurope.com

History[edit]

NetJets Europe, also known by its corporate legal name, NetJets Transportes Aéreos, S.A., was founded in 1996 as a sister company of NetJets, which is based in the United States . In 2002 Mark Booth, the man who brought MTV to Europe and the former CEO of BSkyB, became the company’s Chairman and CEO before resigning in October 2009. P. Eric Connor, senior Vice-President and chief procurement officer of MidAmerican Energy company replaced Mr. Booth as the new CEO. NetJets Europe offers products based on the fractional ownership programme developed in the US in 1986 by Richard Santulli, former Chairman and CEO of NetJets Inc. In 2009, NetJets Europe has launched a voluntary redundancy programme in a bid to shed up to 300 flight crew positions - equivalent to about one-third of its pilot workforce. And in 2013, responding to lower demand for fractional jet charter and jet cards, NetJets Europe reduced its pilot numbers by 128 Captains in Europe. They've focused on countries with the highest employee costs, starting with France and Belgium. Many are seeing this as a very anti-European move by the US-managed company. While there has been some recent evidence of growth in economic activity across Europe, the overall position for NetJets Europe remains fragile. This has meant that NetJets have had to continue to cut costs in all parts of the business, not just in relation to flight crew, which resulted in a number of office based employees leaving the company at the beginning of 2013. A second wave of pilot redundancys for 2013 was announced in October 2013. The proposal is to reduce the number of pilots by another 56.

Services[edit]

Fractional Ownership

NetJets Europe has a fractional ownership program where customers purchase a share in one of 11 aircraft types, starting at 50 hours a year. Owners retain financial and legal control over the asset and the share is assigned to a specific serial numbered aircraft. NetJets Europe is responsible for operating the aircraft, providing flight crew management, trip scheduling, ground support and all maintenance services. The company guarantees availability of an aircraft from 10 hours.

The NetJets Corporate Card and Private Jet Card

In 2004 NetJets Europe acquired Marquis Jet Europe and added the Private Jet Card which provides 25 hours on a jet. Soon after, the NetJets Corporate Card was also added, aimed at European companies.

Staff[edit]

NetJets Europe operates in over 5,000 airports worldwide, with over 43 European airports serving as gateways (where flight crew can be based). All pilots must be residents of the EU or Switzerland. Currently about 970 pilots are employed.

Its offices are spread over Europe; sales and marketing are based in London, operations headquarters in Paço de Arcos, near Lisbon, Portugal and legal offices in Switzerland. There was a dedicated maintenance operation, NetJets Technical Services, based at RAF Northolt near London, which helped service the company's aircraft, from early 2004 until the facility closed down in March 2014. Hangar 311 was used during this period but at the end of the lease, the MoD decided not to renew it.

Fleet[edit]

NetJets Europe Hawker 800XP CS-DNU at Innsbruck Airport in Austria. The NetJets Europe fleet is registered in Portugal
Raytheon Hawker 800XP

Total aircraft types: 11

Light cabin

Midsized cabin

Large cabin

NetJets Companies[edit]

NetJets Europe GmbH

NetJets Transportes Aéreos

NetJets Management Limited

External links[edit]

NetJets Europe