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Aviation History
2004
2004-06 - 0009.PDF
Marquis Jet lays claim to being the global leader in hourly private jet cards, which it sells in increments of 25 hours. The Marquis Jet Card is sold on a single-year, pre-paid basis and its fleet is provided by Netjets through an exclusive alliance between the two companies. Netjets owns the world's largest fleet of more than 500 private aircraft. Marquis Jet reported growth in all facets of its business in the third quarter of 2003 — revenue, new owner growth, owner retention and flight activity. The company also reached a major milestone by surpassing the 1,000th card mark. For the third quarter, revenues in the combined North American and European operations were 157% higher than the same period in the previous year, according to CEO Bill Allard, who also reported that owner retention continued to exceed 90%, with card owners either renewing their card or purchasing a fractional share with Netjets. "The success and tremendous sales growth of the Marquis Jet Card in such a short period of time affirms that we have clearly filled a void in the private aviation space," said Allard. "By creating a new market segment and allying with Netjets, we are firmly positioned to continue as the category leader." The company says its success has come from accurately predicting that global and economic factors were ideal for a short-term product such as its card, which would serve as the next evolution of the fractional jet ownership model. It points to its partnerships and strategic alliances with blue-chip clients such as the Ritz Carlton Club, American Express, Cunard and Neiman Marcus as a mark of its success. Finally, it argues, the greatest indicator of its success is emulation and notes that, within the last six months, all of Netjets' fractional competi tors have launched programmes to compete with Marquis Jet. Achievement: Development of the fractional jet occupancy market 7
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