NetJets Inc., a subsidiary of Berkshire Hathaway, is an American company that sells part ownership or shares (called fractional ownership) of private business jets.
NetJets was founded in 1964 as Executive Jet Aviation. It was the first private business jet charter and aircraft management company in the world.
By March 2018, Netjets had over 7,000 owners, operates more than 300,000 flights per year between 3,200 airports in 150 countries and flew 150,000,000 mi (240,000,000 km) in the previous year.
NetJets sells fractions of specific aircraft, chosen from several available types at the time of purchase. Owners then have guaranteed access (50–400 hours annually, depending on share size) to that aircraft with as little as four hours notice. If the Owner's aircraft is unavailable for some reason, another aircraft of the same type, or a larger aircraft, will be provided. Fractional Owners pay a monthly maintenance fee and an "occupied" hourly operating fee. The latter is charged only when an Owner or guest is on board, not when the aircraft is flying to a pick up point, or flying to another location after completing a flight.
For companies or individuals that require less than the minimum 50 flight hours and the five-year commitment of fractional ownership, they can buy flight hours in 25-hour increments via its Marquis Jet and NetJets jet card program.
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