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As one of the first private jet service companies to stop selling jet cards and memberships, Netjets claims it plans to resume sales in the first half of 2017. The company sent an email to all its current customers and potential consumers on its website. Berkshire Hathaway expects to ”return to marketing our entire product portfolio by spring 2022,” according to the company.
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When asked about timing or details, a representative for the world’s largest private jet operator said that it plans to resume issuing jet cards during that period. Over 2,000 people are now on the waiting list. Since May, there has been a slowdown in NetJets sales when the first of two price increases were introduced.
Costs had been relatively stable for several years in the realm of jet cards. 5.6 percent in the last 90 days and 9.5 percent since December 2019, before the epidemic, according to a study of more than 675 programs done by Private Jet Card Comparisons.
Since June of this year, there has been a dramatic increase in demand for private jet trips. According to Argus TraqPak, private aviation will emerge from Covid-19 10% greater than before. Over the previous four weeks, the number of fractional, jet card, and charter flights in the United States has increased by 44 percent compared to the same period in 2019. Flying levels in Florida have surpassed pre-pandemic levels by more than 60%.
NetJets discontinued its Classic jet cards in June after raising prices to curb demand. Customers may book flights as little as 10 hours in advance using these cards. Even though it was more expensive than Elite cards, there was no additional fee during peak hours. It also eliminated the 25 percent surcharge for booking flights on the 45 busiest days on Elite cards in favor of a total embargo. There were no more jet cards, fractional shares, or leases available on NetJet’s Phenom 300 and Citation XLS models before the end of July.
By August, it was evident that the sector was struggling from a mix of robust sales outstripping capacity and labor shortages, and supply chain concerns. Those were the days when NetJets and Executive Jet Management, the company’s aircraft management arm, announced they were suspending all card sales. NetJets said in a statement that it couldn’t guarantee renewals for existing clients.
According to the end-of-the-year letter, NetJets needs to fly in food on all inbound flights because of Covid-related modifications. Many business leaders report that pre-pandemic suppliers in smaller areas have either shut down or are shifting their attention to retooling their companies to suit the local market better and have stopped providing private aviation services. During the current year, NetJets plans to bring on 55 new aircraft and an additional 75 in the next year. According to the message, 630 additional employees, including 300 pilots, have been hired thus far.
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