Billionaire investor Warren Buffett says he expects shares in his NetJets Europe fractional ownership programme to double this year to 200 shareowners, although he admits the programme is still losing money.

Speaking at a series of business forums throughout Europe late last month, arranged by NetJets to boost the fortunes of the Portugal-based programme, Buffett stressed the merits of fractional ownership.

Since its launch in 1995, NetJets Europe has struggled to gain acceptance for its fractional ownership concept and is still the only company in the region to offer an archetypal fractional programme based on the successful US model. The company operates a broad range of business jets from the Cessna Citation Bravo up to Dassault Falcon 2000, and plans to add a further 20 aircraft by the end of next year, bringing the total fleet to 52.

Source: Flight International