NetJets® Inc. Acquires Leading Jet Card Provider Marquis JetSM

COLUMBUS, Ohio--(BUSINESS WIRE)--NetJets Inc., the global leader in private aviation, announced today an agreement to purchase Marquis Jet, the leader in private jet cards. Under the terms of the agreement, Marquis Jet became a wholly-owned subsidiary of NetJets; no additional details were disclosed.

“By bringing NetJets and Marquis Jet together we combine the unquestioned industry leaders in safety and Owner service and, simultaneously, we create the finest sales and marketing organization in private aviation.”

According to NetJets Chairman and Chief Executive Officer David Sokol, “By bringing NetJets and Marquis Jet together we combine the unquestioned industry leaders in safety and Owner service and, simultaneously, we create the finest sales and marketing organization in private aviation.”

The acquisition of Marquis Jet by NetJets will yield meaningful cost benefits and provide a shared vision to deliver unparalleled Owner experience and value. Most importantly, the acquisition will provide the most competitive pricing structure in the marketplace.

The Marquis Jet Card program, providing individuals and corporations with access to NetJets 25 hours at a time, began in 2001 under the direction of Marquis Jet Partners Founder and Chief Executive Officer Kenny Dichter. The newly branded Marquis Jet Card by NetJets will continue to be a part of a full set of private aviation solutions offered by NetJets.

Kenny Dichter said, “Today, we look to our future. As part of NetJets, Marquis Jet can best capitalize on new opportunities over the long term and provide even greater value to our Marquis Jet Card Owners, which has always been our guiding objective.”

The decision to fully integrate the Marquis Jet Card program is part of the NetJets 10-year business plan, which also includes the consolidation of U.S.-based business functions and, most recently, an order to purchase up to 125 new aircraft.

ABOUT NETJETS

NetJets Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation and provides the safest and most secure private aviation solutions. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 13 of the most popular business jet types in the world. The Marquis Jet Card by NetJets provides access to the NetJets program through a 25-hour jet card. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Card by NetJets, and Executive Jet Management is available at www.netjets.com.

The Gulfstream Large Cabin Fleet is managed and operated by NJI. All other fractional aircraft offered by NetJets in the United States are managed and operated by NetJets Aviation. Executive Jet Management provides management services for customers with aircraft that are not fractionally owned, and provides charter air transportation services using select aircraft from its managed fleet. Each of these operating companies is a wholly owned subsidiary of NetJets Inc. All fractional aircraft offered by NetJets in Europe are operated, maintained, and crewed by NetJets Transportes Aéreos, SA, a Portuguese/EU Air Carrier. NetJets has an affiliation with the provider of the NetJets Middle East Program.

Marquis Jet is a wholly owned subsidiary of NetJets Inc. and sells the Marquis Jet Card by NetJets. Marquis Jet Card by NetJets program flights are operated by NetJets Aviation or NJI under their respective 14 CFR Part 135 Air Carrier Certificates.

Please visit www.netjets.com/acquisition.asp to view our online press kit.