PRESS RELEASE
Executive Jet Receives First Falcon 2000 Business Jet
Executive Jet Receives First Falcon 2000 Business Jet
COLUMBUS, OH February 1, 1999-- Executive Jet, Inc. announced today the arrival of its first Falcon 2000 business jet. The transcontinental-range business jet from Dassault Falcon Jet Corp. will be used exclusively for Executive Jet's NetJets® aircraft fractional ownership program. The ten-passenger jet was part of a 24-jet purchase, announced on December 19, 1997. The $500 million order will be complete in 2001. The company added 17 more Falcon 2000s to its order with Dassault last fall for its successful NetJets Europe program.
"We are pleased that Executive Jet shares our commitment to technological and performance leadership, and has chosen the Falcon 2000 to meet its fleet expansion needs." said John Rosanvallon, president of Dassault Falcon Jet.
The Falcon 2000 has been widely acclaimed as the ideal mid-size cabin solution due to its large cabin interior comfort. Boasting 6 ft. 2 in. of headroom, 7 ft. 8 in. of width and 26 ft. 2 in. of length from cockpit separator to baggage door, the Falcon 2000 is also a very high performance aircraft. The wide body business jet can climb to its initial cruising altitude of 41,000 feet in only 24 minutes and cruise 3000 nautical miles at .80 Mach.
"The Falcon 2000 is another example of Executive Jet's strategy to continually offer NetJets owners the best light, mid-size and large cabin aircraft in the world," said Richard Smith, executive vice president of Executive Jet. The new aircraft continues to round out the NetJets family of products which includes the Citation SII, Citation V-Ultra, Citation VII, Citation X, Raytheon Hawker 800XP, Hawker 1000, Gulfstream IV-SP, and the Boeing Business Jet.
A Falcon 2000 one-eighth interest costs $2,687,500 and entitles the owner to 100 occupied flight hours annually. NetJets owners pay only for actual occupied flight hours. The monthly management fee is $15,250 per 1/8 interest. The occupied hourly rate is $2,160.
"NetJets is a shared aircraft ownership program tailored to an individual's or company's needs, offering aircraft ownership at a fraction of the cost," said Smith. "Under the NetJets concept, an owner purchases a portion of a specific aircraft based on the number of actual flight hours needed annually and contracts with Executive Jet to manage the aircraft."
"NetJets is ideal for the individual or private company who cannot justify the cost of a corporate or private aircraft and for corporations that have invested in corporate1998 aircraft and need to supplement their flight department needs," Smith said.
Since 1993, Executive Jet has ordered 386 new aircraft totaling over $5 billion for its NetJets fractional ownership program. Executive Jet intends to expand it NetJets and NetJets Europe programs to the Middle East and to the Asia/Pacific markets to meet the demands of owners who do business globally. Executive Jet continues to add three to four new aircraft per month to meet the demand of new NetJets owners.
In 1998, Executive Jet took delivery of 44 new aircraft, bringing the fleet total to 118. Due to the success of the NetJets program, Executive Jet has filled 150 new pilot jobs in 1998. With the addition of 51 new aircraft scheduled for delivery in 1999, Executive Jet expects to hire 200 additional pilots as well as operations employees, maintenance and office support to accommodate the company's rapid growth at Port Columbus.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
"We are pleased that Executive Jet shares our commitment to technological and performance leadership, and has chosen the Falcon 2000 to meet its fleet expansion needs." said John Rosanvallon, president of Dassault Falcon Jet.
The Falcon 2000 has been widely acclaimed as the ideal mid-size cabin solution due to its large cabin interior comfort. Boasting 6 ft. 2 in. of headroom, 7 ft. 8 in. of width and 26 ft. 2 in. of length from cockpit separator to baggage door, the Falcon 2000 is also a very high performance aircraft. The wide body business jet can climb to its initial cruising altitude of 41,000 feet in only 24 minutes and cruise 3000 nautical miles at .80 Mach.
"The Falcon 2000 is another example of Executive Jet's strategy to continually offer NetJets owners the best light, mid-size and large cabin aircraft in the world," said Richard Smith, executive vice president of Executive Jet. The new aircraft continues to round out the NetJets family of products which includes the Citation SII, Citation V-Ultra, Citation VII, Citation X, Raytheon Hawker 800XP, Hawker 1000, Gulfstream IV-SP, and the Boeing Business Jet.
A Falcon 2000 one-eighth interest costs $2,687,500 and entitles the owner to 100 occupied flight hours annually. NetJets owners pay only for actual occupied flight hours. The monthly management fee is $15,250 per 1/8 interest. The occupied hourly rate is $2,160.
"NetJets is a shared aircraft ownership program tailored to an individual's or company's needs, offering aircraft ownership at a fraction of the cost," said Smith. "Under the NetJets concept, an owner purchases a portion of a specific aircraft based on the number of actual flight hours needed annually and contracts with Executive Jet to manage the aircraft."
"NetJets is ideal for the individual or private company who cannot justify the cost of a corporate or private aircraft and for corporations that have invested in corporate1998 aircraft and need to supplement their flight department needs," Smith said.
Since 1993, Executive Jet has ordered 386 new aircraft totaling over $5 billion for its NetJets fractional ownership program. Executive Jet intends to expand it NetJets and NetJets Europe programs to the Middle East and to the Asia/Pacific markets to meet the demands of owners who do business globally. Executive Jet continues to add three to four new aircraft per month to meet the demand of new NetJets owners.
In 1998, Executive Jet took delivery of 44 new aircraft, bringing the fleet total to 118. Due to the success of the NetJets program, Executive Jet has filled 150 new pilot jobs in 1998. With the addition of 51 new aircraft scheduled for delivery in 1999, Executive Jet expects to hire 200 additional pilots as well as operations employees, maintenance and office support to accommodate the company's rapid growth at Port Columbus.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
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