Britain’s Office of Fair Trading (OFT) has said that it will not continue to investigate a complaint made against NetJets Europe because it has insufficient resources to do so. “This is an administrative priority decision and does not reflect a substantive view on the merits of the case,” the OFT told Fractional Jet Europe, the UK company that filed a complaint in May alleging that NetJets had changed its contractual terms to prevent fractional owners from reassigning unused flight hours to people buying their aircraft shares. “Our intention, at this time, not to make further enquiries into this complaint does not preclude the OFT from revisiting the matter,” the agency concluded.
Fractional Jet Europe remarkets existing shares in NetJets aircraft, facilitating the process by which they can be transferred to new owners. The company’s chief executive, Chris Moody, told AIN that NetJets contracts permit owners to transfer unused flight hours to be passed on to share buyers and that this was common practice until late in 2010 when the fractional ownership provider started blocking this move.
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