Berkshire Hathaway: FlightSafety Up, NetJets down

Business Jet Traveler » April 2009
Wednesday, April 1, 2009 - 5:00am

Revenues at FlightSafety International increased last year, but declined at NetJets, according to Berkshire Hathaway, which owns both companies but does
not release earnings figures for these divisions. In the fourth quarter last year, NetJets "experienced a significant reduction in revenue as general economic conditions worsened," Berkshire Hathaway reported. "This resulted in lower customer usage and demand, which negatively affected operating margins."

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“"Many years ago, our company founder, Al Conklin, sold a new twin-engine business aircraft to a very successful entrepreneur. He had established a bit of a rapport with the individual and, after the sale, asked him straight out, 'How can you justify the cost of this airplane?' His reply? 'What is the cost of a divorce?'"–David Wyndham, president, Conklin & de Decker”

-David Wyndham