Used NetJets aircraft?

Cessnaflyer

Cessnaflyer

Wooooooooooooooooooooooooooooooo
Dumb question. Where does NetJets unload there jets? I've been seeing more and more lately with the NetJets paint but with different tail numbers.
 
Flooding the market as we speak... My company has 3 of their former G200s, I know another operator picking up 2 or their Falcon 2000's


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digduggy said:
Flooding the market as we speak... My company has 3 of their former G200s, I know another operator picking up 2 or their Falcon 2000's


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Interesting. It seems overnight I've been seeing them.
 
Lots of our G200s were in DAL. There is no website for used NetJets aircraft, but they list them I am sure, on the normal for sale sites.
 
Many go back to the bank or Cessna or whom ever, flooding the market with high time. I know Cessna has like 45 Xs coming onto the market in the next 3 years if NJs does not extend the lease. Selling these jets to the fractionals was a short term profit for long term issues.
 
In the past 7 months we have purchased 3 XLs and are leasing another XL, an X, and a G-V all from NetJets.
 
Let me re state, Netjets might have a few core aircraft. But I would gather 90% of the fleet is owned by a bank or other financial company.
 
SFLAX said:
Let me re state, Netjets might have a few core aircraft. But I would gather 90% of the fleet is owned by a bank or other financial company.
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We don't own or are financially obligated to any aircraft. We don't bring an aircraft on until it has enough owners to be bought.
 
Okay, yes my point. So you don't do core AC anymore. But I would doubt NJ would not take an AC that was not 100% sold. They might have an threshold. But to tell a client sorry I know you just bought a share in a jet but we can't or won't fly until all the other shares are sold. We will contact you in a few days weeks or months. And Yes you are financially obligated to pay an amount for each plane you have to someone .
 
We currently have two former Netjets BE400XPs. They were bought with the idea of upgrading them to 400XPRs, one of which is currently in the process - the other we're using up the last 100 or so hours remaining on the engines then it too goes "under the knife" so to speak.
They won't keep the NJ paint job as that's something the new owner gets to choose as well as interior configuration and color.

At my last place of work we were seriously looking at a G200 and there were several airframes for sale that were ex NJA located in TX.

Last week I heard that Netjets are unloading a lot of aircraft to make way for new which is why there are so many entering the marketplace with different tail numbers. I was told NJ retains the "QS" tail for new aircraft.

PS (shameless plug) we will be showcasing the first fully certified Hawker 400XPR as of next week - or at least once I get out to ICT to pick it up!


Bp244
 
SFLAX said:
Okay, yes my point. So you don't do core AC anymore. But I would doubt NJ would not take an AC that was not 100% sold. They might have an threshold. But to tell a client sorry I know you just bought a share in a jet but we can't or won't fly until all the other shares are sold. We will contact you in a few days weeks or months. And Yes you are financially obligated to pay an amount for each plane you have to someone .
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I'm not exactly sure how it works, but I know we don't lease aircraft, that's not the business we are in. NetJets learned their lesson in 2008 to not have core aircraft and to not float massive amounts of debt if they could help it. They may purchase aircraft and sell the shares off as if comes but at no point does NetJets wholly own the aircraft from what I understand.
 
Inverted said:
I'm not exactly sure how it works, but I know we don't lease aircraft, that's not the business we are in. NetJets learned their lesson in 2008 to not have core aircraft and to not float massive amounts of debt if they could help it. They may purchase aircraft and sell the shares off as if comes but at no point does NetJets wholly own the aircraft from what I understand.
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If they don't lease or own them, then how do they operate them?
 
Cessnaflyer said:
If they don't lease or own them, then how do they operate them?
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I looked into this once, but not 100% sure on this. From what I understand is they sell quarter shares of jets to individuals, for the quarter share the owner is guaranteed X amount of hours use of the plane (along with the other 3 owners). Netjets operates the flights, and in the time the owners are not using the aircraft, netjets uses the plane for on-demand charter for non-owners.
 
Just FYI... It's not 1/4 anymore, they go all the way to 1/16. The FAA max. But Netjets does 100% pay for the jets through leases from banks or financial sources. As for core AC, that probably did change . But understand these owners have 5 year terms on the ownership and at the end either sell back the share or remain as on owner. Someone owns that share at some point, either the client or the banks. The idea is NJ spends X on the lease and sells Y shares for an amount greater then the lease, plus other costs which is usually covered in the monthly management fee. So when NJs leases is up with the Xs over the next 3 years they just drop them off at Cessna and say thank you.
 
Cessnaflyer said:
If they don't lease or own them, then how do they operate them?
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It's a fractional, shares are sold from full aircraft, all the way to 1/16 shares. However the contract is written, NetJets manages the airplane, the owner pays management fees, operational costs, and the share of their aircraft. On top of that NetJets is allowed to sell jet cards as well, so those owned aircraft are also used for charter through Marquis Card.


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