NetJets flies into India

Company Brief

Mumbai, March 19, 2008

NetJets, the world’s leading private jet company, today announced it has engaged Ashish Chordia, CEO of Shreyans, to act as the company’s strategic partner. This is the company’s first foray into the Indian market. This announcement was made at a press conference at Taj Mahal Towers, Mumbai.

Strong economic growth and growing demand for private jet travel in India, coupled with a 400 percent increase in the number of NetJets business jet flights, to and from India in the past four years, has led the company to direct focus on its long term strategy in the country.

NetJets is the pioneer and worldwide leader in fractional aircraft ownership and currently has operations in the U.S, Europe and the Middle East. Fractional aircraft ownership allows individuals and companies to enjoy all the benefits and more of owning their own jet at a fraction of the cost.

The company is by far the largest operator of private jets in the world with a combined fleet worldwide of over 735 aircraft under management– the second largest fleet of aircraft in the world after American Airlines. Combined the company flew over 390,000 flights to over 170 countries in 2007. Meaning that on average a NetJets aircraft was taking off or landing every 41 seconds of every minute of every day. NetJets is owned by Berkshire Hathaway, the investment vehicle of the legendary investor Warren Buffett.

NetJets, through its strategic partnership with Mr. Chordia, will offer its business jet services to Indian businessmen and women looking to travel abroad. The company is also considering its options in the domestic market, including working with additional local partners.

Mr Chordia has been enlisted to help introduce NetJets to the local community due to his knowledge of the Indian market and his long standing experience representing luxury brands including Porsche, Fendi, and Van Cleef and Arpels.

Robert Dranitzke, Director of Marketing for NetJets Europe, said: “India’s economy is booming and in today’s global marketplace, more and more Indian companies are investing and doing business abroad. We look forward to working with Ashish Chordia to service the Indian community.”

Ashish Chordia, CEO of Shreyans and NetJets new strategic partner in India said, “NetJets’ global leadership position and their unparalleled commitment to safety make their service offering an attractive one for many Indian businessmen and women. I am excited to introduce the Indian business community to NetJets”.

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