Netjets - Say Hello To Your First Global

[NJAowner]

JJ - I agree with you.

 

[Outta Here]

I guess many here don't understand. The name of the game here is depreciation. That is on of the MAIN reasons for fractionals. That is something we don't have right now you can't depreciate a used or leased share. They will still be able to sell their old depreciated one at market value and get into the new ride and trust me they always want a new ride

 

[gret]

I guess many here don't understand. The name of the game here is depreciation. That is on of the MAIN reasons for fractionals. That is something we don't have right now you can't depreciate a used or leased share. They will still be able to sell their old depreciated one at market value and get into the new ride and trust me they always want a new ride

You can depreciate a used or leased share. Section 167 of the Internal Revenue Code provides that if the asset (other than land or intangible assets) is used in a trade or business, it is subject to depreciation for tax purposes. Personal use assets may not be depreciated.

The leased share is depreciated if it is deemed a capital lease. If not, it is an operating lease in which case you write off the lease payments as they are made. In either case, it must be used in a trade or business.

 

[rajflyboy]

Gret is awful smart. You have your facts straight.

 

[BentOver]

There will always be those who just have to have the newest, biggest, fastest, shiniest...........


Just gotta hope there are enough of them on Wall Street to buy into NJA

 

[gunfyter]

JJ - I agree with you.

:nuts: I just threw up a little in my mouth uke:

:laugh:

 

[johnsonrod]

Now for the more "touchy" question: will all of the current Gulfstream drivers automatically jump to the Globals on a one-for-one basis as airplanes arrive? What about the senior legacy NJA pilots - can they bid the new aircraft type per their seniority? As a legacy NJI pilot, do you automatically get a seat on the Global? How does that work? Obviously I don't know the contents of your latest contract - especially NJI integration issues.

Not trying to stir the pot - just curious considering the NJI pilots were separate from the original NJA union... Personally, if I were a senior Citation X pilot, I would want a crack at the new Globals before a junior Gulfstream pilot with fewer years on the line (especially because it is a new aircraft type requiring new training, etc.) - but that's just me.

Thanks for any OBJECTIVE insight if possible.

 

[Jack Campbell]

I've had the same questions as JR since they announced the Global purchase. Will a G-IV captain hired in, let's say, 2004 get a displacement bid into a Global? I say he should not be eligible, but the company is allowed to offer it to him. If NJ is going to maintain a seniority-based system, those guys should be able to bid what their seniority holds. Yet another thing that'll be really interesting to watch at my former (and future?) employer over the next 2 years.

 

[johnsonrod]

If Netjets were keeping the Gulfsteams long term - say the G450/550 and maybe some new G650s, I could understand the rationale for keeping the Gulfstream pilots in place given their type ratings and international flying experience, etc. Given that the Globals are new and require different training (new type), does that argument hold true? I know one Netjets Sovereign pilot who flew C-17s and C-141s worldwide and would have no problem flying Globals internationally.

Is Netjets contractually obligated now (per the contract and integration formula) to reposition current Gulfstream pilots into the Globals as they arrive? How will that work?

 

[BentOver]

I think I remember something about the Globals going to bid just like every other a/c....As far as displacement bids, IF there were to be a displacement out of the Gulfstreams, those pilots can bid whatever is available. Much like what is going to probably occur with pilots in the Beechjet, Hawkers, Ultra's etc... There should be a lot of plane switching in the next couple years.....Plus there are still the Phenoms coming up, and also whatever Mid-Size announcements are made. (My bet is the CL-300 and new Citation TEN)

But as far as I know there is no special bid awards given to Gulfstream pilots for being with the former NJI.

On top of that, many many non-NJI pilots have loads of international experience. Many many furloughed pilots have loads of international experience. The fact that NJI pilots have the traditional monopoly on the "INTERNATIONAL" moniker should make zero difference who gets awarded a Global position.

Many NJA pilots "could have" bid over to the Gulfstreams throughout the years. Many have never done it or wanted to simply for the length of legs etc.... Heck, there are Ultra pilots who could be in the X or Falcon etc, who haven't done it simply on what they want out of their week on.