Filed under: Wings
The decision is part of the NetJets 10-year business plan, which also includes the consolidation of U.S.-based business functions and an order to purchase up to 125 new aircraft. The company is also planning major expansion into China. Last year NetJets laid off pilots but it is bouncing back. BusinessWeek mentioned that in August that NetJets had a $114.5 million pretax profit in this year's second quarter.
The Columbus Dispatch also reports that NetJets promoted Jordan Hansell to president. He was previously NetJets' chief legal counsel. David Sokol, who was tapped by Warren Buffett to run NetJets last year, will keep the title of CEO. Hansell will be supported by Adam Johnson and Bill Noe, two veteran NetJets employees, who have been named co-presidents of NetJets North America.