As the price of oil continues its bumpy ride, the broadly lower cost per barrel could present a new business opportunity for the world's largest private jet company.
NetJets, a subsidiary of Berkshire Hathaway which offers fractional ownership and private jet rental, told CNBC that low oil prices – now down around 50 percent from highs last summer -- could boost their business.
"If you are an oil company and you're invested in a fleet of your own private jets, clearly this is the moment where you'll look back at your investments and your assets and think: 'Was this the best decision?'," NetJets' Head of European Sales Marine Eugene said. "I think this is a tremendous opportunity for us."
Eugene noted that a number of oil and gas companies had sold their aircraft in recent years, and moved to fractional ownership plans.
The company currently offers an aircraft transition program, which enables owners of private jets to sell their aircraft, take a portion of the profits and transition to a fractional model.