Call signs are letters of agreement between the operator and ATC. The operator is generally allowed to pick any call sign they like provided no other operator holds that name. For instance, years ago, America West actually had a contest within its employee group to pick a call sign. The winner was "Cactus."
"Execjet" has been the call sign for Executive Jet/Netjets for quite some time. International letters of agreement are more difficult to arrange (Canada being an exception) which is the primary reason why NJA uses NXXXQS when operating internationally. Ironically, Netjets International actually holds the LOA for the call sign "Netjets." But because such a large percentage of NJI operations are international, NJI management decided long ago to use "Gulfstream NXXXQS" for all operations. Less confusion that way. But NJI has hung on to the LOA for the "Netjets" call sign.
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