NetJets has recently paused their sales off fractional shares and leases of the Cessna Citation XLS and Embraer Phenom 300. The decision comes after an unprecedented demand in the private travel industry was seen by NetJets. The company has claimed that inventory constraints have reached a point in the light jet category that may cause harm to the service if additional NetJets fractional sales are seen before the delivery of more aircraft.
The company that originated as Executive Jet Airways in 1964 and sold NetJets fractional sales since 1986 has put prospective customers for the light jet on a waitlist. The company spokesperson further claimed that “The decision to pause light jet sales, in addition to previous announcements regarding raising card prices and eliminating peak period day travel on card purchases, allows the company to continue delivering the best possible experience to all owners.”
Heightened demand is seen across the industry by some NetJets owners, and for some, the business has been usual without any impact. NetJets, in a statement, said that they plan on investing nearly $2.5 billion for purchasing 100 aircraft and hiring more pilots and service employees for on and off-ground services.
The company has further claimed that due to heavy demand in the industry and staffing challenges, existing fractional owners have witnessed a record contract utilization. Certain aspects like fueling, ramp space, and ground transportation are reaching their ultimate stress points and fear over-exhaustion. The reason for suspension has been made clear by the company and aims not to hamper further services and offer the best possible experience to its owners.
The purchasing of extra aircraft and staff members, including pilots, is being done by NetJets with an ultimatum for the end of 2022. The airlines considered the temporary suspension of fractional shares for Cessna Citation XLS and Embraer Phenom 300 and raising card prices with elimination in peak period day travel as a strategic move to reduce the further impact felt by NetJet owners.
Recently NetJets had come onboard as an established operator for Aeron and their business jet AS2. The news about Netjets temporarily suspending their fractional sales Light Jets comes in after a month from the company being an established AS2 operator. NetJets have made no further statement, and recent developments will be seen only after the company’s desired actions to remove the temporary suspension on light jet fractional sales.