March 20, 2018 / 1:32 PM / a year ago

NetJets Europe names new CEO, not worried about Brexit

LONDON (Reuters) - NetJets Europe, owned by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N), named Mario Pacifico its new chief executive on Tuesday, as the private jet company said it grew last year, shrugging off the impact of Brexit.

NetJets Europe, whose most popular destination is London, said in 2017 flights grew by 7.2 percent to 50,000 as high net worth clients and business leaders used its services more.

In London, about 40 percent of NetJet Europe’s customers are flying for business and Pacifico said the company had seen a slight slowdown in the first half of 2017 but that had stabilised in the second half.

“We are not so worried about Brexit. It is not huge at the moment, the move to other countries, so for us it is not an issue,” Pacifico told Reuters at an event to mark the Cessna Citation Latitude aircraft winning certification to fly the steep approach into London City Airport.

NetJets Europe is a subsidiary of NetJets Inc [BRKNT.UL] and specialises in “fractional” aircraft ownership which lets individuals and companies buy shares of private jets, and travel on short notice.

Pacifico was formerly COO of North America Business Services at Luxottica Group.

Reporting by Sarah Young; editing by Stephen Addison

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