PRESS RELEASE
NetJets Boeing Business Jet Makes U.S. Debut
NetJets Boeing Business Jet Makes U.S. Debut
WOODBRIDGE, NJ June 4, 2001 – As the economy has softened over the last six months, Executive Jet, Inc. and its NetJets® fractional aircraft ownership program continues to grow to meet its demanding needs. In the last month alone, Executive Jet ordered over $3.65 billion worth of aircraft and a total of $17 billion in the last six years.
Despite economic downturns, Executive Jet’s NetJets business remains buoyant. “In the past six months, we’ve had an uptick in business as more companies realize that the cost of doing business is expensive, but they have to be more competitive,” said Richard T. Santulli, chairman and chief executive officer of Executive Jet.
Responding to a demand by companies who must be ready to fly farther than ever before while remaining productive and in contact while en route, Executive Jet has taken delivery of its first long-range, large cabin Boeing Business Jet (BBJ) for its NetJets fleet.
“We’ll be using the BBJ to connect the continents,” said Mr. Santulli. “As technology continues to shrink the world, more and more companies compete in worldwide markets, so the need to meet face-to-face becomes even more important than ever.”
Mr. Santulli, who introduced the concept of fractional aircraft ownership in 1986, calls the BBJ a natural complement to the existing NetJets fleet. “The BBJ broadens the NetJets fleet and allows us to provide NetJets owners with a full range of airplane sizes to meet their global business transportation needs.” Today NetJets offers 12 different aircraft types, with five more on the way.
“We’re excited to see the first BBJ enter the NetJets fleet and have been looking forward to this day since we announced our joint venture in 1997,” said Borge Boeskov, president of Boeing Business Jets. “Our relationship with NetJets allows us to introduce the BBJ to a much broader customer base and NetJets owners now have the option of utilizing this long range business productivity tool. This is a great partnership for Boeing, NetJets and NetJets fractional aircraft owners.”
In 1997, Boeing and Executive Jet joined forces to offer both companies and individuals a way to expand their business horizons by offering the BBJ in fractional shares. Boeing Business Jets is a joint venture between Boeing and General Electric launched in 1996.
Companies going global can now take advantage of the most powerful business tool available today at a fraction of what it would cost to purchase an entire BBJ. The BBJ is the ultimate business jet with regard to range, space, comfort, utility and productivity. With a range of 6,000 statute miles, this high performance version of the Boeing 737 can fly nonstop from New York to Cairo, San Francisco to Tokyo, or Chicago to Moscow.
By far the largest aircraft in the NetJets fleet, the BBJ’s interior is nearly triple the size of the largest and most popular business jets and can be considered an “office in the sky”. It accommodates up to 18 passengers and sleeps nine. Spacious living room, conference room, dining room, master bedroom suite, office/2nd bedroom, three lavatories (two with showers) enable large groups to travel to distant destinations and arrive refreshed and ready to do business. The BBJ can provide secure transportation and communication and serve as a temporary headquarters.
SATCOM communications, plain paper fax, and eight individual telephone lines allow business teams to be productive en route. The Airshow Network makes instant communication a reality by bringing an array of programming onboard the BBJ, including up-to-the-minute stock quotes, news briefs, business updates, and customized financial reports through information providers such as CNN, Bloomberg and Sportsticker.
A one-eighth share in the BBJ will cost $6.1 million. Monthly management fees cost $41,000 for a one-eighth interest and occupied hourly costs are $4,360.
NetJets is the pioneer and worldwide leader in fractional aircraft ownership offering individuals and companies all the benefits of private flying at a fraction of the cost. NetJets is the fractional aircraft ownership program of Executive Jet, Inc., a Berkshire Hathaway Company.
NetJets programs are available in the U.S., Europe and the Middle East, and plans are underway for NetJets™ Asia and NetJets™ South America. More information on Executive Jet and its NetJets programs is available through Executive Jet’s website at www.netjets.com.
Despite economic downturns, Executive Jet’s NetJets business remains buoyant. “In the past six months, we’ve had an uptick in business as more companies realize that the cost of doing business is expensive, but they have to be more competitive,” said Richard T. Santulli, chairman and chief executive officer of Executive Jet.
Responding to a demand by companies who must be ready to fly farther than ever before while remaining productive and in contact while en route, Executive Jet has taken delivery of its first long-range, large cabin Boeing Business Jet (BBJ) for its NetJets fleet.
“We’ll be using the BBJ to connect the continents,” said Mr. Santulli. “As technology continues to shrink the world, more and more companies compete in worldwide markets, so the need to meet face-to-face becomes even more important than ever.”
Mr. Santulli, who introduced the concept of fractional aircraft ownership in 1986, calls the BBJ a natural complement to the existing NetJets fleet. “The BBJ broadens the NetJets fleet and allows us to provide NetJets owners with a full range of airplane sizes to meet their global business transportation needs.” Today NetJets offers 12 different aircraft types, with five more on the way.
“We’re excited to see the first BBJ enter the NetJets fleet and have been looking forward to this day since we announced our joint venture in 1997,” said Borge Boeskov, president of Boeing Business Jets. “Our relationship with NetJets allows us to introduce the BBJ to a much broader customer base and NetJets owners now have the option of utilizing this long range business productivity tool. This is a great partnership for Boeing, NetJets and NetJets fractional aircraft owners.”
In 1997, Boeing and Executive Jet joined forces to offer both companies and individuals a way to expand their business horizons by offering the BBJ in fractional shares. Boeing Business Jets is a joint venture between Boeing and General Electric launched in 1996.
Companies going global can now take advantage of the most powerful business tool available today at a fraction of what it would cost to purchase an entire BBJ. The BBJ is the ultimate business jet with regard to range, space, comfort, utility and productivity. With a range of 6,000 statute miles, this high performance version of the Boeing 737 can fly nonstop from New York to Cairo, San Francisco to Tokyo, or Chicago to Moscow.
By far the largest aircraft in the NetJets fleet, the BBJ’s interior is nearly triple the size of the largest and most popular business jets and can be considered an “office in the sky”. It accommodates up to 18 passengers and sleeps nine. Spacious living room, conference room, dining room, master bedroom suite, office/2nd bedroom, three lavatories (two with showers) enable large groups to travel to distant destinations and arrive refreshed and ready to do business. The BBJ can provide secure transportation and communication and serve as a temporary headquarters.
SATCOM communications, plain paper fax, and eight individual telephone lines allow business teams to be productive en route. The Airshow Network makes instant communication a reality by bringing an array of programming onboard the BBJ, including up-to-the-minute stock quotes, news briefs, business updates, and customized financial reports through information providers such as CNN, Bloomberg and Sportsticker.
A one-eighth share in the BBJ will cost $6.1 million. Monthly management fees cost $41,000 for a one-eighth interest and occupied hourly costs are $4,360.
NetJets is the pioneer and worldwide leader in fractional aircraft ownership offering individuals and companies all the benefits of private flying at a fraction of the cost. NetJets is the fractional aircraft ownership program of Executive Jet, Inc., a Berkshire Hathaway Company.
NetJets programs are available in the U.S., Europe and the Middle East, and plans are underway for NetJets™ Asia and NetJets™ South America. More information on Executive Jet and its NetJets programs is available through Executive Jet’s website at www.netjets.com.
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