NETJETS LAUNCHES NEW FINANCING OPTION

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By TESTCustomwebLP TESTCustomwebLP November 18, 2010 22:04

NETJETS LAUNCHES NEW FINANCING OPTION

Private aviation company, NetJets has launched NetJets Direct FinancingTM, an in-house, one-stop financing option through NetJets Finance LLC offering speedy payment for private jet travel.

NetJets directly originated loans at competitive rates to its business customers for fractional ownership without the need for a bank or third party. They also offer the option to lease or purchase a fractional share from NetJets.

David Sokol, NetJets chairman and chief executive officer, says: “Whether they are renewing an existing ownership share, expanding their private jet usage, or simply looking for a way to reduce upfront costs, this financing option represents a smart way to make capital deployment decisions. And, because of our financial strength, NetJets is the only private aviation company to be able to offer direct, competitive financing.”

He adds: “A significant benefit of NetJets Direct Financing is that owners are able to structure a payment solution that exactly meets their needs and, just as with purchasing a fractional share, they are able to receive the benefits of owning the asset itself, including any depreciation advantages.”

The financing minimum is $100,000 with 20% deposit, a fixed interest rate, and a term and amortization schedule that is based on the vintage of the aircraft and the contract length. The term is up to five years with an amortization schedule of 20 years, minus the age of the aircraft and a balloon payment at the end.

Financing is available for fractional shares in all NetJets aircraft types, subject to owner qualification. NetJets Direct Financing is available only to owners that are business entities and is not available to individuals.

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By TESTCustomwebLP TESTCustomwebLP November 18, 2010 22:04
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