The private jet company owned by Warren Buffett’s Berkshire Hathaway is moving into China, where it sees huge growth potential.
NetJets has secured a licence to fly from the Chinese civil aviation authority, allowing it to set up in a country where there is little private jet activity.
“With the wealth distribution in China right now, where you have over a million millionaires and quite some number of ultra-high net worth individuals growing each year in leaps and bounds, we see private flying becoming more dominant,” said Robert Molsbergen, chief operating officer of Executive Jet Management, the brand under which Netjets will operate in China.
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