Executive Jet continues to surge ahead of its rivals with three major orders for its Netjets fractional ownership programme. The contracts involve up to 161 aircraft with a combined value of nearly $3 billion.
The first deal, with Boeing Business Jets (BBJ), is for nine BBJs, with an option to acquire an additional 16 (Flight International, 14-20 October). The four-year deal, to become effective with the delivery of the first aircraft in January 2000, could be worth about $1 billion and brings Boeing's total BBJ order book to 46.
The second contract, with Gulfstream Aerospace, is for 14 GIVSPs and 10 Gulfstream GVs, with options for a further 16 GVs. The contract marks the launch of the Gulfstream V Shares fractional ownership programme set up by the two companies in 1995, initially operating GIVSPs. To date, Executive Jet has ordered 44 GIVSPs and 12 GVs. The $1.3 billion order also includes a five-year service contract for maintenance and refurbishment of Executive Jet's business aircraft charter and NetJets fleet.
The final contract is with Cessna, and covers 50 Citation Sovereigns with an option for 50 more. The $650 million deal brings the total on order with the Wichita, Kansas-based manufacturer to nearly 200 aircraft. The first Sovereign is due for delivery in 2002.
Executive Jet is by far the largest and most successful fractional ownership company, managing no fewer than 147 aircraft on behalf of 1,100 owners from its Montvale, New Jersey-base.
Source: Flight International
