NetJets is already quite efficient in our operations. With the largest fleet of private jets in the world, we are able to minimize the distances of ferry flights, achieve high utility, and minimize unoccupied flight time. Averaging 5 years, our fleet is one of the youngest in existence, certainly for its size, and takes advantage of the newest technology. In addition, NetJets uses small general aviation airports almost exclusively, limiting the amount of idling time and air delays.

Now, with The NetJets Climate Initiative, we are prioritizing a number of opportunities for additional reductions of our environmental impact. Through an aggressive program of increased efficiency and conservation, NetJets will reduce energy use and greenhouse gas emissions. We completed a baseline energy audit and have begun a series of initiatives to reduce our internal energy consumption and related carbon emissions by at least 10% by the end of 2009. This will be done as our business continues to grow.

The NetJets Climate Initiative is designed to increase the energy efficiency of all NetJets facilities, including offices and ground operations, and, in so doing, both reduce pollution impacts and decrease dependence on non-renewable sources of energy. NetJets will also increase recycling and the purchase of energy-efficient products and services and will establish higher environmental standards for vendors.

To oversee this initiative and manage and report on NetJets’ expanded environmental initiatives, NetJets has hired a Director of Environmental Management.