Warren Buffett’s NetJets has announced a $312 million new investment in the European private jet charter market for the 2004 calendar year.

The order includes two Gulfstream IV-SP jets capable of servicing the transatlantic market and costing around $27.5 million, and further jets ranging from the $6.3 million Citation Bravo to the $22.2 million Dassault Falcon 2000.

Said Mark Booth, chairman and chief executive of NetJets Europe: “We are buying a total of 21 new aircraft to service the increasing demand for private jet travel, in part due to the increased delays caused by additional security checks.

“This latest move underlines our confidence that fractional ownership of private jets is set to grow rapidly in Europe, as it has done in the US, where hundreds of companies use a fractional jet programme.”

NetJets has 43 aircraft in Europe, and last year, the number of NetJets owners doubled to more than 240 across Europe.

Booth added: “We have a product that saves the time of

senior executives – the most important asset that many companies have. This year will see us taking that product to hundreds

more people.”

Warren Buffett – who bought NetJets in 1998 for $725 million, after being a customer for three years – intends to visit Europe later this year to help win round business leaders to private aviation.

Clients include General Electric, Arnold Schwarzenegger, Tiger Woods and Rubens Barrichello.