Story ID: 2020912alerts
NetJets Europe Launches Direct Financing Program
By: Chad Trautvetter
Caption: 
Word Count: 188
NetJets Europe launched the first direct financing product for the fractional industry in Europe, providing new clients with an alternative financing method with rates comparable to those offered by major financial institutions.

“With the current economic climate, many businesses are working to avoid the large capital outlay traditionally associated with jet or even fractional jet ownership, especially given the scarcity of credit from the traditional lenders,” said NetJets Europe CFO Luis Pinto. “However, corporates still need to fly to do business and remain competitive, and want the financial and tax benefits that leasing can’t deliver.”

NetJets Europe Direct Finance, which the company said will “bridge the gap between lease and acquisition,” requires customers to provide a 25-percent down payment. Interest rates vary depending on the number of hours the customer purchases. Backed by Berkshire Hathaway, NetJets Europe represents a secure line of credit for the term of the five-year acquisition programs. “We know how uncertain the current market is and want to provide our customers with all the options to secure an aircraft and continue to [expand] their business,” concluded Pinto.