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Nov 20, 2009
The Beginning of the Re-evaluation
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.
Category: General
During a Squawk Box episode in late October, CEO David Sokol explained the circumstances that resulted in the decision to furlough the 500 or so pilots, saying that "customer usage is off 15 to 20 percent. What we’ve had to do is get the cost structure in line with today’s economy and the needs of the owners. Our aircraft have to be revalued to current market values, and in many cases they’re down as much as 40 percent."
As a result, NetJets's Cessna Ultra and Encore fleets are being phased out as customer contracts end and the NetJets Association of Shared Aircraft Pilots (NJASAP) is providing the furloughed pilots with helpful resources to aid them.
As a result, NetJets's Cessna Ultra and Encore fleets are being phased out as customer contracts end and the NetJets Association of Shared Aircraft Pilots (NJASAP) is providing the furloughed pilots with helpful resources to aid them.
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Category: General
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Category: Fractional
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Nov 20, 2009
Category: General
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.
[More]
Oct 13, 2009
Category: General
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Sep 24, 2009
Category: General
Posted by: adam
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.
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Sep 15, 2009
Category: General
Posted by: admin
Consider this fair warning that your aircraft utilization will need to look as little like private use possible.
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Sep 1, 2009
Category: General
Posted by: admin
Longtime CEO and founder Richard Santulli resigns in face of mounting losses at Netjets.
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