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NetJets awaits green light to start China operations

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Staff writer ▼ | July 8, 2014
Fewer than 300 privately owned jets are authorized for flight in China, and in August NetJets, which American billionaire Warren Buffett acquired, is looking to become an air-taxi service for China's wealthy and corporate customers.
NetJets
NetJetsFewer than 300 privately owned jets are authorized for flight in China, and in August NetJets, which American billionaire Warren Buffett acquired, is looking to become an air-taxi service for China's wealthy and corporate customers.


"We firmly believe that China is an important growth market for private aviation," NetJets spokesman Tom Hoyt says.

August is when the subsidiary of Buffett's Berkshire Hathaway Inc is expecting to get final approval for its operating certificate from the Civil Aviation Administration of China, company CEO Jordan Hansell told The Wall Street Journal earlier.

Founded in 1964, the Ohio-based NetJets offers rental of business jets, as well as fractional ownership by which a customer buys a share of a plane rather than the entire aircraft, paying to have the use of a plane each year for certain number of hours.

In addition to offering fractional ownership of a jet and charter services, the company will manage aircraft for individual owners and companies, providing such services as hangaring, maintenance, insurance and cleaning, NetJets says.


 

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