History of NetJets in Timeline

NetJets is an American company specializing in fractional ownership of private business jets. This business model allows individuals and corporations to purchase a share of an aircraft, providing access to private aviation without the full cost and responsibility of owning an entire jet. NetJets manages the aircraft, including maintenance, pilots, and scheduling, offering a convenient and flexible travel solution for its owners.

1958: Federal Aviation Act

The Federal Aviation Act of 1958 barred rail carriers from owning air carriers.

1964: EJA began operations with Learjet 23 aircraft

In 1964, EJA initially began operations with a fleet of ten Learjet 23 aircraft.

1964: Executive Jet Airways Founded

In 1964, Executive Jet Airways was founded, marking the beginning of what would become NetJets.

June 1965: Pennsylvania Railroad purchased majority of shares

In June 1965, the Pennsylvania Railroad purchased a majority of shares in EJA through a subsidiary.

1968: Pennsylvania Railroad merged into Penn Central

In 1968, the Pennsylvania Railroad merged into Penn Central, continuing the search for a buyer for EJA.

1969: Penn Central and EJA fined by CAB

In 1969, Penn Central and EJA were fined $70,000 by the Civil Aeronautics Board (CAB).

1970: Sundlun replaced Lassiter

In 1970, Bruce Sundlun replaced Olbert Lassiter as the leader of EJA.

1972: Sundlun, Scott Jr. and Sinclair bought out Penn Central interest

In 1972, Bruce Sundlun, Robert L. Scott Jr., and Joseph S. Sinclair bought out the Penn Central interest in EJA.

1976: Paul Tibbets became president

In 1976, Paul Tibbets became president of EJA.

1984: Executive Jet Aviation purchased by Richard Santulli

In 1984, Executive Jet Aviation was purchased by Richard Santulli.

1986: Fractional Ownership Business Launched

In 1986, NetJets launched its fractional ownership business.

1987: NetJets program officially announced

In 1987, the NetJets program was officially announced, becoming the first fractional aircraft ownership format in history.

1996: NetJets Europe Launched

In 1996, NetJets Europe was launched as a sister company of NetJets.

1998: Berkshire Hathaway acquired EJA and NetJets Inc

In 1998, Berkshire Hathaway acquired EJA and NetJets Inc from Richard Santulli.

1998: Berkshire Hathaway purchased EJA

In 1998, Berkshire Hathaway purchased Executive Jet Aviation (EJA).

1998: Subsidiary of Berkshire Hathaway

In 1998, NetJets became a subsidiary of Berkshire Hathaway.

2002: Name Changed to NetJets

In 2002, the name was changed to NetJets, after Berkshire Hathaway purchased the company.

2003: IRS sought back taxes and penalties from NetJets

The Internal Revenue Service (IRS) had sought back taxes and penalties of $643 million from NetJets for periods beginning in 2003.

2006: NetJets expanded to Europe and Russia

By 2006, NetJets had expanded to Europe and Russia, becoming the largest operator of business jets in Europe.

August 2009: Santulli resigned as CEO

In August 2009, Richard Santulli resigned as CEO and was replaced by David Sokol.

2010: NetJets acquired Marquis Jet

In 2010, NetJets acquired Marquis Jet from Jesse Itzler and Kenny Dichter. The prepaid Marquis Jet card allowed customers to purchase 25 hours of guaranteed flight time on the NetJets fleet.

June 2012: Largest aircraft order in private aviation history

On 11 June 2012, NetJets placed the largest aircraft order in private aviation history totaling US$17.6B.

2012: Worked with Chinese authorities to secure operating certificate

NetJets worked with Chinese authorities since 2012 to secure the operating certificate to launch its aircraft charter service in China.

September 2014: Approval to launch aircraft charter service in China

In September 2014, NetJets acquired approval to launch its aircraft charter service in China.

January 2015: District Court issued decision in NetJets' favor

In January 2015, the United States District Court ruled in NetJets' favor, holding that the IRS assessments were unlawful.

2015: Pilots picketed Wynn resort

In 2015, the company's pilots picketed the Wynn resort in Las Vegas due to deteriorating labor relations.

2016: QS Partners Launched

In 2016, QS Partners, the whole-aircraft brokerage arm of NetJets, was launched.

March 2017: Lawsuit alleging discrimination

In March 2017, a former NetJets pilot alleged that the company violated US Civil Right and Ohio anti-discrimination law when she was fired.

October 2019: QS Security Services Launched

In October 2019, NetJets launched QS Security Services with tiered security packages.

2019: Pilot filed lawsuit against NetJets

In 2019, a former NetJets pilot filed a lawsuit alleging discrimination.

May 2020: Health risks of commercial flights trump concerns about private jet transport

In May 2020, NetJets President of Sales, Marketing and Service, Patrick Gallagher noted that the health risks associated with flying on commercial airlines during the pandemic had trumped concerns about the optics of opulence and the environmental issues of private jet transport.

October 2020: Moves to reduce carbon footprint

In October 2020, NetJets committed to buying sustainable aviation fuel and encouraging customers to buy carbon offsets for their flights to reduce its carbon footprint.

November 2020: Composition of the NetJets Fleet

As of November 2020, almost half of the company's fleet was manufactured by Textron, and the rest by Bombardier Inc. and Embraer.

February 2021: Company purchased stake in WasteFuel

In February 2021, NetJets purchased a stake in WasteFuel and plans to purchase 100 million gallons of SAF from WasteFuel over the next 10 years.

March 2021: NetJets ordered Aerion AS2s supersonic business jets

In March 2021, NetJets announced that it had ordered 20 Aerion AS2s supersonic business jets.

May 2021: Aerion abruptly announced its closure

On 21 May 2021, Aerion abruptly announced its closure, due to the inability to raise the needed capital to continue.

August 2021: NetJets suspended its card program

Due to a surge in demand for private aviation during the COVID-19 pandemic, NetJets suspended its card program in August 2021.

2021: NetJets expected to take delivery of 40 new aircraft

After reducing its delivery target for 2021, NetJets expected to take delivery of 40 new aircraft in 2021 in anticipation of industry recovery.

2021: Fleet flew 478,444 hours

In 2021, the NetJets fleet flew 478,444 hours.

March 2022: Partnership with Lilium GmbH

In March 2022, NetJets announced that it would partner with Lilium GmbH to establish an eVTOL network in Florida, buying 150 Lilium Jets.

2022: Ohio federal judge ruled in favor of NetJets

In 2022, an Ohio federal judge ruled in favor of NetJets, citing the plaintiff's failure to prove sex discrimination.

March 2023: Sales restarted

Sales of the NetJets jet card programs restarted in March 2023.

September 2023: NetJets to Purchase Cessna Citation Jets

In September 2023, NetJets announced that it will be purchasing up to 1,500 Cessna Citation jets from Textron Aviation.

2023: Worldwide coverage by QS Security Services

Future plans for QS Security Services include worldwide coverage by 2023.

March 2024: NetJets' global fleet

As of March 2024, NetJets' global fleet included more than 750 aircraft.

July 2024: NetJets fleet as of July 2024

Additional aircraft not included in this data exist within the NetJets Europe, and Executive Jet Management fleet. The NetJets fleet as of 31 July 2024: