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.

FMI: www.netjets.com