NetJets gets China's OK for new private jet firm

OMAHA, Neb. (AP) — NetJets says its new joint venture will soon begin offering private charter flights in China now that regulators there have granted the company an operating certificate.

NetJets, which sells partial ownership interests in business jets in the United States and Europe, has been working since 2012 to gain approval to set up operations in China.

NetJets CEO Jordan Hansell says he believes there is strong growth potential in China for private jet flights.

The new China venture includes a group of Chinese investors led by Hony Jinsi Investment Management (Beijing) Ltd. and Fung Investments.

NetJets, which is based in Columbus, Ohio, is owned by Warren Buffett's Omaha, Nebraska, based Berkshire Hathaway Inc.