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NetJets Acquires Marquis

by Leroy Baker, Tax-News.com, New York

08 November 2010


NetJets, the global leaders in private aviation, has announced the acquisition of Marquis Jet, a leading private jet cards provider.

Under the terms of the agreement, Marquis Jet will now become a wholly-owned subsidiary of Netjets. Other terms were not made publicly available.

Commenting on the acquisition, NetJets Chairman and CEO, David Sokol, stated: “By bringing NetJets and Marquis Jet together we combine the unquestioned industry leaders in safety and owner service and, simultaneously, we create the finest sales and marketing organization in private aviation.”

NetJets said the acquisition “will provide the most competitive pricing structure in the marketplace”.

Under the deal, Marquis Jet Card program will continue to be offered to individuals and corporate entities, alongside other NetJets private aviation services.

Marquis Jet Founder and Chief Executive Officer Kenny Dichter added: “Today, we look to our future. As part of NetJets, Marquis Jet can best capitalize on new opportunities over the long-term and provide even greater value to our Marquis Jet Card Owners, which has always been our guiding objective.”

NetJets said that Marquis was a strategic purchase, building on its 10-year business plan, under which it is purchasing 125 new aircraft.

NetJets offers fractional ownership of private aircraft to its clients, guaranteeing availability of aircraft 365 days of the year with just a few hours' notice.

TAGS: aviation

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