NetJets history

According to Business Week, Santulli studied applied mathematics at the Polytechnic University of New York, earning two M.S. degrees before the arrival of his son in 1967 prompted him to pursue more lucrative work.

Santulli thrived there but left in 1979 after becoming head of the leasing unit and at the verge of being named partner.

In 1982, Santulli cofounded Jayeff Stables, a commercial race horse breeder in Kentucky.

He bought Executive Jet in 1984.

When NetJets created fractional ownership in 1986, something fundamental changed.

Bombardier Aerospace Group and AMR Combs Inc., the charter sibling of American Airlines, introduced the Business JetSolutions program in May 1994.

Called 'the most astute investor of the 20th century,' and the world's second richest man after Bill Gates, Buffett had been an avid EJA customer since 1995.

EJA had revenues of more than $500 million in fiscal year 1996--97.

A joint venture with Boeing Business Jets and GE was announced in October 1997.

In July 1998, however, Warren Buffett's Berkshire Hathaway Inc. announced that it was buying EJA for $725 million in stock and cash.

Bombardier's FlexJet fleet reached 100 planes in 1999 and was gaining rapidly.

Having gotten his start in private aviation in 2001 by pestering Santulli for an exclusive agreement to sell jet cards in increments of 25 hours onto the NetJets fleet under the Marquis Jet Partners banner, he's back.

Also reinstated in 2002 was an order for 50 Gulfstream G200s.

For perspective, a 2007 UBS report estimated NetJets had a 61% share of the fractional fleet.

They are not chasing headlines, but they are still the biggest business jet operator in the world,” says Alasdair Whyte, editor and co-founder of Corporate Jet Investor, adding, “Until 2008, NetJets was very focused on growth.

Buffet, impressed by NetJets’ operation, decided to purchase the company, while Santulli continues as Chairman and CEO until 2009.

Fortunately, with the acquisition of Marquis Jet in 2010, NetJets had a service that could put those woes to rest: the Marquis Jet Card. (It is important to note that NetJets had kept the Marquis name for the program until recently, with the launch of the NetJets Elite card.)

The announcement of the closure of NetJets Middle East was made in November 2011.

In July of 2012 NetJets placed an order for up to 425 business jets which, if all aircraft are delivered, would be worth up to $9.25 billion at 2012 list prices.

NetJets China finally received its Air Operators Certificate (AOC) in 2014 and transferred two Hawker 800 private jets from its European fleet to begin operations.

A March 2015 press release from the NetJets Association of Shared Aircraft Pilots announced 98% of the union's members voted no confidence in the then CEO.

Early in 2016 there was a further announcement that Business Aviation Asia (BAA), a subsidiary of China Minsheng Investment Group, was going to be taking a 25% stake in the company.