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Tue 24 Apr 2001 04:00 AM

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NetJets expands private jet business

Every serious business and technology entrepreneur should have a private jet; NetJets is here to help you more easily acquire the ultimate status symbol

NetJets International said this week that it aims to dramatically expand its business throughout the Middle East. The company credits itself with inventing the concept of ‘fractional jet ownership’, whereby a person buys part ownership in a plane for the right to use that plane a certain amount. Mohammed Al Zeer, president and CEO of NetJets Middle East (NJME), said that the Gulf region is one of the most lucrative markets for aircraft fractional ownership in the Middle East. “NJME has witnessed a strong and growing awareness of fractional aircraft ownership,” says Al Zeer. “The high demand has led us to invest more resources in the region.” The company says it will open a number of offices in major Gulf cities. “Private aviation is a US$2 billion industry and NJME is positioned to capitalise on this strong market growth,” continued Al Zeer. “NJME is able to link its owners to NetJets US and NetJets Europe and soon, NetJets Asia and NetJets South America.”Under NetJets’ fractional ownership scheme, customers can start from a one-eighth interest in a specific aircraft going up to full ownership. The company says that this allows potential owners to determine their share depending on their personal or business travelling schedule. NJME says owners are guaranteed availability of aircraft at all times and at fixed operating costs.There are three types of plane in the NetJets fleet: the Gulfstream IV-SP, Falcon 2000 and the Hawker 800 XP.

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