NetJets will add 30 more aircraft by the end and another 70 next year, according to an email sent to customers today
The world’s largest private jet operator is getting bigger, faster than it previously planned. Before the pandemic, NetJets said its fleet plan was to add approximately 40 new private jets annually over the next 10 years.
It had already said it was accelerating growth as demand surged in recent months.
100 new private jets by the end of 2022
Earlier today, in a letter to customers from CEO Adam Johnson and President Patrick Gallagher, the unit of Berkshire Hathaway said it would add 30 more aircraft by year’s end after already taking delivery of 25 since January.
Now, the seller of fractional shares, leases, and jet cards says it will add 70 new jets in 2022.
Total investment is pegged at $2.5 billion.
The company said it had added 100 pilots in recent weeks. It wants to add 200 more by the end of the year.
“After a tremendously successful Pilot Career Day in July, we will host two more similar events: one later this month and a second later this fall,” the two executives wrote.
NetJets is also recruiting additional owner services staff. A class of new hires recently joined its operations center after eight weeks of training, according to the update.
To provide more capacity, the operator also allows pilots to extend the number of service days during each tour.
In the letter, Johnson and Gallagher noted, “Our proactive fatigue monitoring system and our flight scheduling software help ensure pilots are always in top shape to fly. Plus, our non-punitive program allows the crew to remove themselves from duty if not fit for flight.”
Scaling back sales
In June, NetJets suspended jet card sales of its Citation Latitude and Classic jet cards. Classic cards offered a 10-hour booking window. Then in July, it pulled sales of the Phenom 300 and Citation XLS, its entry-level jets across the board, including fractional shares and leases.
The company said it was trying to quell demand until it could add more capacity and pilots.
An official tells Private Jet Card Comparisons there are no updates on paused products. However, “The waitlist is growing by the day.”
About the additional jets, he added, “The aircraft mix of deliveries is roughly proportionate to our current fleet.”
Latitudes (138), Phenom 300s (99), Bombarder Challenger 350s (85), and XLSs (76) made up the bulk of the fleet. There were also 41 ultra-long-range Bombardier Global 5000s and 6000s. In total, Netjets operates 11 different aircraft types.