PPRuNe Forums - View Single Post - NetJets loses $1M a day in 2009
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Old 19th May 2009, 19:43
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falconbis
 
Join Date: Nov 2004
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Cyberdragon

Just for your information:
the business model is not seen as a problem at Netjets, In the Beckershire hattaway financial report publication of aviation service 2008, we can read that the profit before tax of the aviation service department ( netjets US EU, FSI, ITT) is 970 M usd almost identical of 2007 except that in 2007 the majority of the money was made by NJE/NJA/NJI and in 2008 by ITT...
Netjets NTA lost 258 owners and signed 270 this year the balance is still a growth !
list of new customers are waiting as they cannot sell their own AC on the actual market, before to sign with NJE... so the business model is very appealing at the moment , the big problem Netjets have to face is the 258 pilots they have hired to crew the 32 aircraft that are not coming anymore , delivery have been postponed for 2 to 3 years to 5 to 10 ac / year that s why they are going to offer soon like in the US volontary paid leave of absence with benefits for 3 years then take the guys back once airplane delivery restart.
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