“Russian-specific product has been very successful”

Since the launch of NetJets Europe’s Russian operations in 2004, the number of annual flights to and from the country has grown to two thousand and beyond. The company’s business in Russia is steadily progressing, as it develops special program tailored to suit local customers needs and expands its fleet. The operator took delivery of three new Global 6000s this year, and expects delivery of the Embraer Phenom 300 early next year. Mark Wilson, President and COO of NetJets Europe, shared with Show Observer, why Russian market is important for the company.

— Mr. Wilson, the recent downturn has changed the business aviation landscape. Why is fractional ownership still a viable model? How has the economic situation transformed it - in terms of business model, aircraft, programs?
— Fractional ownership provides all the benefits of owning an aircraft at a fraction of the costs. In this challenging economic environment, people are looking for cost effective ways of flying privately and it makes more sense than ever to be part of a program like NetJets where all the responsibilities of owning an aircraft are managed by the business but you have guaranteed aircraft availability anytime, anywhere within 24 hours’ notice. As a result NetJets Europe core business model hasn’t changed. We have however seen several gaps in the market and developed new products in line with customer and market feedback. We have recently developed the NetJets Direct Finance product, expanded our Primary Operational Area to the Middle East and introduced NetJets Europe’s Aircraft Management business — Executive Jet Management Europe.