The Charter Jet Industry Booms in Cincinnati

Executive Jet Management’s President and CEO Albert Pod announced that his company is shattering records with a 36 percent rise in jet charter revenues in the year 2003. This is well above the figures touted the previous year, and they are projecting numbers to go even higher next year. Market research on the jet charter industry indicates a safe 24 percent growth for the future. This news comes in spite of the fact that many major commercial airlines are losing millions in revenue each day. What an astounding indictment against the commercial airline industry.

Pod stated that growth in charter jet management revenues continues to keep a steady pace as well, despite declining to release his Lunken Airport based company’s figures. Executive Jet Management is a subdivision of NetJets, Inc. which is in turn owned by Warren Buffet’s Berkshire Hathaway.

Pod advised that because Executive Jet Management is "really, really, really good at what we do”, and is expert at meeting the needs of its clientele, the growth of this company can be traced directly to the increased desire by executives and celebrities who do not wish to be inconvenienced by flying on regular airlines. They want jet charters.

Over the years, many of the major airlines have tried their hand at the charter jet business. Some have not found this niche to be profitable; for example: United Airlines, for instance, closed its jet charter division upon realizing it was not sustainable for them.

Atlanta-based Delta Air Lines has done relatively well with its charter jet business, Delta Air Elite, which is headquartered locally at the Cincinnati/Northern Kentucky International Airport.

Cameron Gowans, vice president of sales and marketing for Delta Air Lines, states the company is "experiencing multiples of double digits of growth in terms of revenue flight hours.” Delta Air Elite not only operate its own aircraft, but manages fleets for other carriers as well—similar to Executive Jet Management.

Mr. Gowans continues, "we're the only business jet service provider that is part of a major airline, and we see that as a competitive advantage--we've got members that use airlines sometimes and use business jets sometimes. They are looking for the most efficient way to travel."