Charter & Fractional
NetJets Europe predicts profit this year
As a result of aggressive cost-cutting measures, NetJets Europe expects to achieve modest operating profits this year.

As a result of aggressive cost-cutting measures, NetJets Europe expects to achieve modest operating profits this year. But the recovery in demand for its business aircraft fractional ownership, block charter and lease offerings is proving slower than anticipated, to the extent that the company now doubts whether even a return to modest market growth will be achieved next year, according to chairman and CEO Eric Connor.

“We thought that 2010 would be a year for stabilizing, followed by modest growth in 2011 and then that there might be an uplift in 2012, 2013 and 2014,” Connor told a September 9 press briefing in London. “But now we will have to see whether there will be any growth in 2011 or 2012–there probably will be some in Western Europe.”