NetJets Seals Groundbreaking 2010 Acquisition with Marquis Jet

In 2010, NetJets, a leading private aviation company under the ownership of Berkshire Hathaway, cemented its position in the market through the acquisition of Marquis Jet. Founded by Jesse Itzler and Kenny Dichter, Marquis Jet gained recognition by pioneering the jet card membership model, which differed from the fractional ownership commonly seen at the time. This system allowed clients flexibility, offering 25 hours of flight time through a membership model that appealed to medium-volume flyers without long-term commitments. The acquisition was seen as a natural progression given the existing partnership between the two companies. With over $800 million in sales by 2009, Marquis Jet became a notable player by offering strategic partnerships and leveraging strong branding, thereby helping NetJets expand its market share and customer base. The merger was strategically beneficial for NetJets, enabling cost reduction and competitive pricing while advancing their position in the private aviation sector.