Jet Owner

The general aviation sector is slowly starting to heal its wounds as NetJets regains momentum, flight hours increase and the stigma surrounding the use of private jets lessens.

According to several studies and papers, including research on great white pelicans, planes flying in a V-shaped formation could potentially save fuel and cut greenhouse gases. Meanwhile, the private aviation industry is experiencing some growth due to heightened security in the commercial sector, and further growth is predicted.

Following NetJets' announcement in late November of furloughs starting January 15th, the company has been forced to cancel large orders of aircraft and concentrate on the more burgeoning areas of their business. At the same time, signs of the end of the recession coupled with a loyal following clash with no such signs for the fractional ownership business itself.

NetJets recently announced the decision to furlough close to 500 pilots starting January 15th of next year due to economic circumstances. Up to 495 will be furloughed in North America and at least 5 from NetJets International.

Due to the current economic environment, Cessna has taken control of 92% of CitationShares while Tag Aviation now only owns the remaining 8%, which Cessna is also eyeing.

UBS regularly estimates the outlook for the manufacturers of private jets.  Due to over a decade of over supply and inflated prices the good news is less great than hoped.

Consider this fair warning that your aircraft utilization will need to look as little like private use possible. 

Longtime CEO and founder Richard Santulli resigns in face of mounting losses at Netjets.