Business is Brisk at NetJets Europe;
May Soon Need First BBJ Over Here

The NetJets Europe fractional aircraft ownership programs set a record first quarter this year and are doing even better in the second, according to managing director and CEO Mark Booth.

NetJets Europe CEO Mark Booth gets in front of the right people

NetJets now has a rapidly growing fleet of 32 aircraft in Europe, and is considering positioning its first BBJ here, he told Show News.

"There is a big demand," he said, noting that countries "indexing above average" include the UK, Switzerland, Italy and France. "We are still looking to improve our performance in Germany," he said, adding "the Nordic countries have been best for us on a relative basis."

Booth is noting a trend towards bigger aircraft-"we're seeing a lot of interest in GVs and BBJs," he said-while smaller aircraft are in heavy demand. "Bravos are back ordered. Those and Excels are basically selling out as soon as we get them." The London financial community is a heavy user of the Bravo as it can operate into London City Airport near their offices at Canary Wharf.

"They realize you can put the same amount of capital as owning your own aircraft into fractional ownership and have use of different kinds of aircraft to fit the mission, or use multiple aircraft simultaneously," said Booth. "Why take a GV from London-Paris, for example, when you can use a Bravo or an Excel?"

Booth was appointed CEO of NetJets Europe in February. He brought with him extensive contacts with the business world, where he piloted the UK's major pay television operation BskyB through what proved the fastest digital subscriber launch in history.

"I had a chance to kick the tires as non executive co-chairman of Net- Jets Europe for five months, and in that time I met enough senior executives and (influential) individuals to det- ermine whether this was an idea that was going to translate to Europe," Booth explained. "I can tell you with 100% conviction the answer to that is 'Yes.'"

The idea of fractionals is a powerful one that people intuitively understand, he said. NetJets' only issue has been getting in front of the right people-key corporate players and wealthy or influential individuals-with the right message. "We've zeroed in on people with that profile in each country, and we've made a lot of progress in that regard," Booth said.

Yet he readily admits the market is difficult. "If you want to compete here you've got to have deep pockets and a pretty big will," he said. "We're fortunate to have both."

NetJets is here at Booth 7627.