NetJets, FlightSafety Flying High

BJT Waypoints
Warren Buffet, CEO of Berkshire Hathaway
Thursday, November 17, 2011 - 11:30pm

Third-quarter pretax earnings at Berkshire Hathaway’s “other services” division, which includes FlightSafety International and NetJets, climbed 15 percent from the same quarter last year, to $281 million. The increase reflects stronger demand for pilot training at FlightSafety and, at Netjets, higher revenues, more favorable foreign currency exchange rates and slightly better operating margins. Berkshire noted that FlightSafety’s earnings rose primarily because of increased training demand in the business aviation and regional airline markets.

 

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“"I've got a list of corporations that have gotten out of their airplanes [because of criticism from politicians]. It is the stupidest thing I've ever seen. When you look at the time and cost savings; it does not make sense not to fly [privately]. You can't let public perception interfere with your business decision to fly. It either is a good business decision or it isn't."”

-business aviation entrepreneur Nick Popovich