PRESS RELEASE
NetJets Inc. Orders Additional 100 Aircraft For NetJets Fractional Aircraft Ownership Program
NetJets Inc. Orders Additional 100 Aircraft For NetJets Fractional Aircraft Ownership Program
NetJets Places $1.5 Billion Order With Gulfstream for 50 G150 Business Jets and Options for 50 More Aircraft
WOODBRIDGE, NJ September 9, 2002 – NetJets® Inc. has ordered 100 new wide-cabin, high-speed Gulfstream G150 business jets from Gulfstream Aerospace Corporation for the company's rapidly growing NetJets fractional aircraft ownership program. Total value of the order, options and maintenance services is approximately $1.5 billion. Deliveries of the Gulfstream G150 to NetJets are scheduled to commence in 2005.
Richard Santulli, chairman and chief executive officer of NetJets, stated, “The Gulfstream G150 order is another example of NetJets' commitment to continually offer the best aircraft in the world to meet the varying needs of our NetJets owners. Today, we offer 11 different aircraft types to chose from with 6 additional aircraft types being delivered in the next three years to meet the evolving needs of our NetJets owners.”
“This order is a historic and important milestone for Gulfstream,” said Bill Boisture, executive vice president, General Dynamics, and president, Gulfstream. “It is the fourth major order placed by NetJets in our seven-year relationship. This agreement recognizes the continuing success of our partnership and our combined commitment to the success of NetJets' fractional ownership program.”
The Gulfstream G150, currently under development, is scheduled to enter service in the second quarter of 2005. Gulfstream and Israel Aircraft Industry engineers drew upon the company's experience in the business jet market to develop an aircraft that offers the best range and speed of any aircraft in its class — plus a wide, roomy cabin for passenger and crew comfort, all at a surprisingly affordable price. Powered by two fuel-efficient Honeywell 731 engines, the G150 will offer the best performance in its class. With a maximum range of 2,700 miles and at a long-range cruise speed of Mach .80, the wide-cabin, high-speed G150 will be able to fly from New York to Los Angeles nonstop.
Capable of accommodating seven or eight passengers comfortably, the spacious wide-body cabin features stand-up headroom, ample aisle space and generous seated headroom and legroom.
Gulfstream and NetJets forged a strong partnership when NetJets introduced the first Gulfstream IV-SP aircraft to its program in 1995. Since then, including this new order, NetJets has placed orders for 286 Gulfstream business jets.
The NetJets fractional aircraft ownership program allows individuals and companies with less than full aircraft requirements to own aircraft without the substantial investment required for outright aircraft purchase. The NetJets program has proven to be extremely valuable for companies that have invested in whole aircraft ownership and need NetJets to meet their supplemental lift requirements.
NetJets® Inc., a Berkshire Hathaway Inc. company, is the world's largest operator of private business jets. Richard Santulli introduced the concept of fractional aircraft ownership in 1986. NetJets has ordered over $21 billion worth of aircraft to meet the evolving needs of NetJets owners. Today, NetJets manages over 485 aircraft, with more than 820 aircraft on order. NetJets fractional aircraft ownership programs are available in the U.S., Europe and the Middle East. More information on NetJets is available through its Web Site at www.netjets.com.
NetJets® has forged an exclusive alliance with Marquis Jet Partners, Inc., for the sale of short-term leases of fractional interests in the NetJets fleet. The Marquis Private Jet Card is sold on an all-inclusive, pre-paid basis in single-year 25-hour increments. Members of the Marquis Jet program have the same access and benefits as a NetJets owner.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
WOODBRIDGE, NJ September 9, 2002 – NetJets® Inc. has ordered 100 new wide-cabin, high-speed Gulfstream G150 business jets from Gulfstream Aerospace Corporation for the company's rapidly growing NetJets fractional aircraft ownership program. Total value of the order, options and maintenance services is approximately $1.5 billion. Deliveries of the Gulfstream G150 to NetJets are scheduled to commence in 2005.
Richard Santulli, chairman and chief executive officer of NetJets, stated, “The Gulfstream G150 order is another example of NetJets' commitment to continually offer the best aircraft in the world to meet the varying needs of our NetJets owners. Today, we offer 11 different aircraft types to chose from with 6 additional aircraft types being delivered in the next three years to meet the evolving needs of our NetJets owners.”
“This order is a historic and important milestone for Gulfstream,” said Bill Boisture, executive vice president, General Dynamics, and president, Gulfstream. “It is the fourth major order placed by NetJets in our seven-year relationship. This agreement recognizes the continuing success of our partnership and our combined commitment to the success of NetJets' fractional ownership program.”
The Gulfstream G150, currently under development, is scheduled to enter service in the second quarter of 2005. Gulfstream and Israel Aircraft Industry engineers drew upon the company's experience in the business jet market to develop an aircraft that offers the best range and speed of any aircraft in its class — plus a wide, roomy cabin for passenger and crew comfort, all at a surprisingly affordable price. Powered by two fuel-efficient Honeywell 731 engines, the G150 will offer the best performance in its class. With a maximum range of 2,700 miles and at a long-range cruise speed of Mach .80, the wide-cabin, high-speed G150 will be able to fly from New York to Los Angeles nonstop.
Capable of accommodating seven or eight passengers comfortably, the spacious wide-body cabin features stand-up headroom, ample aisle space and generous seated headroom and legroom.
Gulfstream and NetJets forged a strong partnership when NetJets introduced the first Gulfstream IV-SP aircraft to its program in 1995. Since then, including this new order, NetJets has placed orders for 286 Gulfstream business jets.
The NetJets fractional aircraft ownership program allows individuals and companies with less than full aircraft requirements to own aircraft without the substantial investment required for outright aircraft purchase. The NetJets program has proven to be extremely valuable for companies that have invested in whole aircraft ownership and need NetJets to meet their supplemental lift requirements.
NetJets® Inc., a Berkshire Hathaway Inc. company, is the world's largest operator of private business jets. Richard Santulli introduced the concept of fractional aircraft ownership in 1986. NetJets has ordered over $21 billion worth of aircraft to meet the evolving needs of NetJets owners. Today, NetJets manages over 485 aircraft, with more than 820 aircraft on order. NetJets fractional aircraft ownership programs are available in the U.S., Europe and the Middle East. More information on NetJets is available through its Web Site at www.netjets.com.
NetJets® has forged an exclusive alliance with Marquis Jet Partners, Inc., for the sale of short-term leases of fractional interests in the NetJets fleet. The Marquis Private Jet Card is sold on an all-inclusive, pre-paid basis in single-year 25-hour increments. Members of the Marquis Jet program have the same access and benefits as a NetJets owner.
Contact:
Maryann Aarseth
NetJets Inc.
732-326-3735
maarseth@netjets.com
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