“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
NetJets Europe Launches Direct Financing Program
NetJets Europe has introduced the continent’s first direct financing product for fractional-jet-share buyers, providing them with rates that it says are comparable to those offered by major financial institutions. 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 depend on the share size being purchased. Backed by Berkshire Hathaway, NetJets Europe represents a secure line of credit for the term of the five-year acquisition programs.