NetJets Cancelling Orders

[Grim Reaper]

The fractionals are nothing more than service providers in what is increasing a service based economy. The current economic condition is impacting the fractional industry as a whole. The customer base comes from the top 1% of the financial strata. Even those people watch their pennies, and personal jets are an expensive luxury whether you own one or own a share of one.

The Wichita Eagle article indicates nothing more than NetJets not taking aircraft it can not sell right now. There is no reason to accept delivery of an aircraft intended for fractional sale if you can sell it.

The article says nothing about the stability of NetJets or any other fractional. It takes a broad leap of imagination to say that NetJets is in serious trouble based on what is stated in the article: it is not. NetJets, as are all other fractional is merely responing to current economic realities.

 

[cgmason1]

It appears that even the mighty Netjets is susceptible to the economy.

Sounds like someone is jealous.

Fly Safe
Chuck

 

[flexlrpilot357]

Sounds like someone is jealous.

No, that's not it all.

 

[V1RT8]

Good for NetJets

Grim Reaper has it right. With as many aircraft on order as NJ has, to slow or delay delivery based on a reforecast of economic situations sounds like good management. It would be much worse to take delivery and not have the aircraft sold. That gets expensive real quick. All fracs have this option written into their contracts and take advantage of it as necessary. The buying power of the frac industry allows for this option. I would bet that there are several corporate and private operators that wished they had the same option right now.

 

[cgmason1]

No, that's not it all.

I'm just messing with ya.

I hope the best for all the frax.

Fly Safe
Chuck

 

[stingray]

Didn't Uncle Warren order 100 more planes about 2 months ago.
during the NBAA in Orlando?

 

[fracman]

"Didn't Uncle Warren order 100 more planes about 2 months ago.
during the NBAA in Orlando?"

Yes - 50 CJ3's with an option for 50 more.

 

[stingray]

Hey fracman 200planes i guess is the real numbers

100 CJ3's and 100 G150's
100 orders with another 100 options

 

[fracman]

Here's the press:

"Orlando, Florida, September 10, 2002 – Cessna Aircraft Company and NetJets Inc. have announced an agreement whereby NetJets will purchase 50 Citation CJ3s, with an option for 50 more, and 12 Citation Xs for its fleet of fractional ownership aircraft. This latest agreement between the companies is valued at over $300 million. Citation X deliveries will occur in 2004, and initial deliveries of the CJ3 will begin in 2005."

 

[Grim Reaper]

FO is getting a new collins equipped 800XP in NJA colors with an NJA interior. It will carry a CW tail number.

Why is FO getting the plane. Not sure, just know that NJA isn't accepting any 800XP's for a while.

After the article discussing NJA action at Cessna, 1200 Cessna folks laid off indef. Couple to three thousand more told to expect unplanned 6 week vacation without pay.

 

[FracPilot]

Why is FO getting the plane. Not sure, just know that NJA isn't accepting any 800XP's for a while.

Rumor is that NJA has canceled various orders for Raytheon products due to the involvement with FO. I can't imagine that management would do such a thing strictly out of spite, though - so take it for what it is, just a rumor.

It is, at least, fun to speculate what all these things mean - it sure makes a tour go by faster.

 

[Diesel]

Man an nja colored plane with a CW tail is going to start the world talking. Might as well start the rumor now.

I hear nja is buying flops.

Or maybe NJA is starting an alter ego carrier with Flops and they will be flying bombardier aircraft only.

Your right it does make the tour go by quicker

 

[FracPilot]

Man an nja colored plane with a CW tail is going to start the world talking. Might as well start the rumor now.

I hear nja is buying flops.

Even better.....a NEW airplane that was supposed to go to NJA is now at FO. We have some CX's that used to fly in the NJA fleet(a little spin there). Seems that FO is buying NJA! OH THE HUMANITY!

The real truth is that both NJA and FO have been bought by UAL Corp. It's a last ditch effort to try to keep UAL afloat. Watch out for that reverse flow the UAL pilots are pushing for.

 

[x402]

CJ3's, hey that's a 525type rating, time to get those resumes in.....do you need the address?