NetJets

NetJets and Signature Aviation have partnered to begin construction on a NetJets exclusive-use terminal, NetJets Service Hub and two hangars.

The jittery outlook comes despite record business jet order backlogs and “solid demand” JetNet Director Rolland Vincent said at NBAA.

“Business aviation as a service” is fueling the latest wave of growth, which is great news for stakeholders.

The COVID-19 pandemic initiated an explosion in the way business aviation is used—one that continues today.

NetJets has terminated the employment of two “high-ranking” union leaders in the NetJets Association of Shared Aircraft Pilots (NJASAP), the union alleges.

Embraer delivered 18 executive jets during the first quarter of 2024, including 11 light and seven medium jets, the company says.

The firm order is valued at $326.4 million based on list prices at the time of signing.

NetJets pilots have ratified a Tentative Agreement to amend their current labor contract, which includes a 51% wage increase over the next five years.

NetJets’ legal counsel alleges the union has encouraged its pilot membership to engage in actions to “unlawfully” slow operations.

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NetJets says the union rejected a proposal to increase wages 52.5%, declined to submit the offer to its members and has not submitted a counterproposal.

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Jeremy Kariuki, Aviation Week associate editor for business aviation, and Molly McMillin, managing editor for business aviation, discuss the agreement.

“We’re excited. It’s a big deal for us,” Ron Draper, Textron Aviation president and CEO, told The Weekly of Business Aviation.

NetJets has signed up to be the launch customer for the Cessna Citation Ascend, now under development, with deliveries projected to begin in 2025.

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NetJets is scheduled to receive its first Praetor 500 in 2025.

The Praetor 500 is a “great aircraft,” and now “a big player” is supporting it, says Rolland Vincent, president of consulting firm Rolland Vincent Associates.

The aircraft will be the first Embraer Praetor 500s to enter the NetJets fleet.

The NetJets Association of Shared Aircraft Pilots filed the suit against NetJets on April 24.