Executive Jet Management

Executive Jet Management. It is a leading provider of aircraft management and private jet charter services, operating as a wholly-owned subsidiary of NetJets, a Berkshire Hathaway company. The company specializes in managing private aircraft on behalf of owners and offering those aircraft for charter to qualified clients, creating a revenue stream for owners while ensuring professional operation. Headquartered in Cincinnati, Ohio, it maintains a significant operational footprint across North America.

Overview

Executive Jet Management functions as a core component of the global business aviation infrastructure, providing a bridge between aircraft ownership and efficient asset utilization. The company operates under the stringent safety and operational standards of its parent, NetJets, which is itself regulated by the Federal Aviation Administration under Part 135 of the Federal Aviation Regulations. Its clientele includes corporations, high-net-worth individuals, and other entities seeking the flexibility and privacy of private air travel without the full burden of direct operational oversight. The firm's integration within the Berkshire Hathaway portfolio underscores its financial stability and long-term strategic position in the aviation industry.

Services

The company's primary offering is comprehensive aircraft management, which encompasses all logistical, maintenance, and crew requirements for owned aircraft. This includes scheduling, flight dispatch, hangar storage, and adherence to all aviation law and insurance mandates. A critical service is its private jet charter program, where managed aircraft are made available to a vetted client base, with revenue shared with the owner. Additional services include aircraft acquisition and sales consulting, flight crew training and staffing, and detailed financial reporting for owners. These services are designed to maximize aircraft utility and value while ensuring compliance with the operational protocols of the National Business Aviation Association.

Fleet and operations

Executive Jet Management oversees a diverse and modern fleet comprising various aircraft from leading manufacturers such as Bombardier Aviation, Gulfstream Aerospace, Dassault Falcon Jet, and Textron Aviation. The fleet includes popular models like the Cessna Citation series, Hawker 800, and Challenger series jets. Operations are conducted from a network of fixed-base operators and company-managed facilities across key aviation hubs, including those near Teterboro Airport, Van Nuys Airport, and Miami International Airport. All flights are conducted under its own Air operator's certificate with crews trained to the highest standards, often exceeding those required by the Federal Aviation Administration.

History

The company was founded in 1996 by Richard T. Santulli, a pioneer in fractional ownership who also founded NetJets. It was established to provide dedicated management services for whole aircraft owners, a complementary business to the fractional model. In 1998, NetJets was acquired by Berkshire Hathaway, bringing Executive Jet Management under the umbrella of Warren Buffett's conglomerate. This acquisition provided significant capital and market stability. Throughout the 2000s, the company expanded its service network and fleet, weathering industry challenges like the 2008 financial crisis and the COVID-19 pandemic, emerging as a resilient operator within the private aviation sector.

Business model

The firm operates on a service-fee and revenue-sharing model, generating income from monthly management fees charged to aircraft owners for its operational and administrative services. A substantial portion of revenue is derived from the chartering of owner aircraft, where the company acts as a broker and operator, taking a percentage of the charter revenue. This model aligns the company's incentives with those of the owner, aiming to keep aircraft flying and generating income. Its affiliation with NetJets provides economies of scale in areas like fuel purchasing, insurance, and crew training, creating a competitive advantage in the aircraft management marketplace.

Category:Aviation companies of the United States Category:Companies based in Cincinnati Category:Berkshire Hathaway subsidiaries Category:Business aviation