NetJets, the nation’s largest business aircraft operator, will occupy a new terminal building now under construction at Van Nuys Airport.
Maguire Aviation, a fixed base operator at the airport, is building the 10,000-square-foot terminal facility, and NetJets will be leasing the space, officials from both companies said. The project started early this month and is scheduled to be complete by early next year. Officials would not disclose financial terms of the deal.
The owner of NetJets is Berkshire Hathaway, the private investment firm of billionaire Warren Buffet. The company, based in Ohio, offers fractional aircraft ownership, on-demand charter and aircraft management services to about 4,000 customers.
Observers say the company’s presence is a plus for the Valley airfield because it raises the airport’s profile while adding a competitor for the established charter operators there.
“This new, private-use FBO (fixed-base operation) will be customized for NetJets and will provide our customers with exceptional service and amenities at one of their most popular destinations,” Todd Baumgartner, NetJets’s senior vice president of aviation infrastructure and services, said in a written statement.
NetJets aircraft currently uses Maguire Aviation for flights, but a separate terminal allows NetJets to elevate the services and amenities offered to passengers in one of its top five markets, company officials said. The amenities include a private parking area, an independent catering kitchen, conference rooms, a crew lounge and rest area.
For more on this story read the Sept. 12 edition of the San Fernando Valley Business Journal.