(BRK.A), (BRK.B)
NetJets, a global leader in private aviation and a subsidiary of Berkshire Hathaway, is expanding its real estate footprint with over a dozen projects across the United States. Key markets for these new investments include the New York tri-state area and Arizona.
This expansion includes the development of both existing and new facilities, such as NetJets Service Hubs™, to provide Owners with a personalized brand experience and seamless access to their aircraft.
NetJets has long held the largest market share of flight volume in New York. Recognizing the importance of this location, the company plans to renovate and rebrand its primary fixed-base operator (FBO) at Teterboro Airport in New Jersey. In collaboration with Signature Aviation, the enhanced space will be accessible exclusively to NetJets Owners. The new facility will feature a private ramp and hangar space, an Owner lounge, VIP conference rooms, a refreshment station, dedicated parking, and other amenities to ensure smooth arrivals and departures starting in 2025.
This summer, NetJets will also open an exclusive-use Service Hub in Scottsdale, Arizona. This marks the company’s first new-build Service Hub, operated in partnership with Jet Aviation. The Scottsdale hub will offer proactive aircraft maintenance, VIP conference rooms, a private lobby, an outdoor patio with mountain views, vehicular ramp access, and covered parking. Additionally, NetJets plans to break ground on a new facility in Las Vegas this year, set to open in 2027. The two-hangar Las Vegas FBO will include a dedicated terminal, lobby, and parking. Other projects are underway in Eagle, CO; Atlanta, GA; Bedford, MA; Austin, TX; and Dallas, TX.
“We are proud to announce our latest investments to grow our real estate footprint with renovated FBOs and NetJets Service Hubs in key markets,” said Patrick Gallagher, President of Sales, Marketing, and Service at NetJets. “By introducing new Service Hubs in the West, strengthening our partnerships with FBOs, and offering an exclusive facility at Teterboro, we continue to help our Owners reach across the country with ease.”
© 2024 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell a stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.