|Destinations||Point to point|
|Headquarters||Paço de Arcos, Portugal|
|Key people||Warren Buffett|
NetJets Europe (business name of NetJets Transportes Aéreos, S.A.) is a company that offers fractional ownership of private business jets. Being a partially owned subsidiary of NetJets Inc., it is based in Portugal, being the largest business aviation company in Europe.
NetJets Inc., formerly Executive Jet Aviation, was founded in 1964 as the first private business jet charter and aircraft management company in the world.
Executive Jet Aviation was purchased in 1984 by former Goldman Sachs executive Richard Santulli who became chairman and CEO of the corporation. In 1986 the NetJets program was created by Santulli as the first fractional aircraft ownership program. In 1998, after being a NetJets customer for three years, Warren Buffett, Chairman & CEO of the Berkshire Hathaway company, acquired NetJets Inc.
NetJets Europe, also known by its corporate legal name, NetJets Transportes Aéreos, S.A., was founded in 1996 as a sister company of NetJets.
NetJets Europe is the largest business aviation company in Europe and has a dedicated fleet of 100 aircraft of nine different types. It flies around 1,500 Owners to 900 airports in Europe and more than 5,000 airports around the world.
NetJets Europe has a fractional ownership program where customers purchase a fraction or share in one specific aircraft type, 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.
Owners then have guaranteed access to that aircraft at any time. If the owner's aircraft is unavailable for any 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.
NetJets Europe are also responsible for operating the aircraft, providing flight crew management, trip scheduling, ground support and all maintenance services. The company guarantees availability of an aircraft with as little as 10 hours notice.
The Private Jet Card
Companies or individuals that require less than the minimum 50 flight hours of fractional ownership can buy flight hours in 25-hour increments.
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 583 pilots are employed.
NetJets has the largest private jet fleet both globally and in Europe, with more than 650 aircraft worldwide and around 100 in Europe. Jets in their fleet are classified by cabin size. Currently NetJets Europe operates nine aircraft types as follows:
- NetJets Europe GmbH
- NetJets Transportes Aéreos
- NetJets Management Limited
- Executive Jet Management Europe - offers aircraft management services and on-demand air charter services. Based in Lisbon Portugal.
- Hermann Simon mentioned this company in his correspondent Book as an example of a "Hidden Champion" (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- ISBN 978-0-387-98147-5. P. 13)
- ""Warren Buffett: Clairvoyant Or Crazy" Forbes". Retrieved 12 June 2012.
- "Company Overview of Netjets - Transportes Aereos, S.A". Retrieved 16 January 2016.
- ""Luxury jet company NetJets Europe launches new plane at Manchester Airport" Manchester Evening News". Retrieved 16 June 2015.
- ""NetJets Offer Private Jet Owners a Seamless Transition" Superyachts.com". Retrieved 24 November 2015.
- ""Executive Jet Management Europe Receives Individual AOC" Reuters". Retrieved 19 May 2014.