Fri, Nov 05, 2010
Part Of A Long-Term Business Plan That Includes Additional
Aircraft Purchases
NetJets announced Wednesday it has agreed to purchase Marquis
Jet, a private jet card company. Under the terms of the agreement,
Marquis Jet became a wholly-owned subsidiary of NetJets. No
additional details were disclosed.
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.” NetJets
officials say the acquisition 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.
“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,” said Dichter.
The company said 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.
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