4 June 2009

netJets’ Santulli on CNBC

An interesting interview on CNBC this week by Richard Santulli, founder chairman and CEO of NetJets.

Lots of ground covered, but some of the notable points:

  • Santulli being touted as a possible successor to Warren Buffett at Berkshire Hathaway
  • NetJets’ flown hours down about 26% YTD versus prior year
  • NetJets’ revenues track the stock market, whereas jet sales track corporate profits
  • Consistent use of the industry’s key messages about the value of business aviation (1.5 million US employees, $150bn contribution to US economy, low jet utilisation by actual CEOs versus other employees)
  • A business jet takes you where an airline can’t:  90% of all US scheduled flights go to 70 airports, but last year NetJets flew to 2,600 airports in the US and connected over 60,000 unique city pairs
  • NetJets is seeing a bigger impact in the recession on business usage (down 30%) than personal usage (down only 8%)
  • Neatly turns President Obama into a role model for NetJets customers by praising his recent use of a Gulfstream instead of the costlier Air Force One!
Marc Cornelius

Managing Director & Founder

Marc has over 20 years’ international PR experience gained at leading agencies and in-house. He has specialised in aviation and travel for a decade, devising and overseeing successful international PR programmes and building 80:20 Communications into an acclaimed sector specialist.

Article Author Marc Cornelius