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NetJets
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January 2021

The Future of NetJets and Private Aviation

The Worldwide Leader Looks Ahead with Positivity
The 2020 pandemic impacted businesses everywhere, including, of course, the private aviation industry. The past year has also left behind a blanket of global uncertainty. As the worldwide leader in private aviation, we have been asked repeatedly to describe what we believe will be the future state of the industry. We are pleased to share the following insights for 2021—and beyond.

Welcoming New Owners

We’re feeling cautiously optimistic for the state of the industry. We believe there will continue to be an influx of new Owners who are also new to private aviation. You see, in recent years financial trends suggest that there have been a lot of people with the means to fly private who perhaps viewed it as a luxury they didn’t need. Now, they are recognizing that the ultimate luxury is peace of mind. With reduced commercial airline schedules and the prioritization of COVID-19 precautions, these same individuals are considering private flying for the first time, and we don’t believe this will change.

For these reasons, we believe jet cards with minimal commitment and all-inclusive pricing will continue to prove an ideal solution for new Owners. To make NetJets easier to join, we’ve also introduced new and elevated programs. This includes adding our most requested aircraft, the Phenom 300, and our best-selling aircraft, the Citation Latitude, to the jet card program, as well as launching a short leg program to eliminate flight minimums and associated fees. We will continue developing exciting program enhancements like this well into 2021.

An Increase in Travel

As vaccination programs expand, we predict travel will return to previous levels. At the start of the pandemic, NetJets experienced about 10% of normal flight volume. Today NetJets is consistently operating at 85% of typical flight demand, an indication that Owners are confident in NetJets’ ability to get them safely to their destination. We expect to be back to 2019 levels by the second half of 2021.

Pre-pandemic leisure flights accounted for approximately 60% of NetJets’ flights, while travel for business was at about 40%. Now, leisure and business travel constitute 80% and 20%, respectively. We believe leisure flying may be rebounding faster because travelers are eager for an escape. Meanwhile, it makes sense for business flights to be down because most business events have been postponed or conducted virtually. We expect to see an eventual rebound in business travel based on the conversations we’re having with our existing business clients, who tell us that they expect to do more flying with NetJets as travel restrictions are lifted.

Safety and Sustainability

We will remain, as always, diligently focused on safety and service. With this in mind, we will continue to lead the private aviation industry in the best practices of The NetJets CleanTM, including investing more than $16M in cleaning and disinfecting our aircraft to keep our Owners safe—and we expect others to emulate our standards. We believe we will see others in the industry prioritizing sustainability as we are with our Global Sustainability Program. It is our worldwide commitment to reduce the environmental footprint made by NetJets.

Room to Grow

NetJets will continue to significantly expand our fleet. Taking delivery of over 30 new private jets during a pandemic, we now look forward to taking at least 40 new aircraft every year for the next decade. We have also recently made a significant real estate investment with new facilities in Denver, Colorado, and San Jose, California, that will feature private lounges for Owners and hangar space for minor maintenance needs. From this, we expect a return on investment with increased business.

How We Will

Stay on Top

In a recent Forbes article, Doug Gollan, Forbes contributor and founder of Private Jet Card Comparisons, explains our resilience through the pandemic and what we are focused on in 2021. Read the full article here.
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