NetJets Financial Winds Shift Favorably
The nine-month-old NetJets pilot contract, which raised wages substantially, isn’t having the speculated adverse effect on profits at the fractional provider. According to
parent company Berkshire Hathaway first-half financial report, revenues from NetJets for the first six months increased $347 million, or 26 percent, over last year,
reflecting a 23-percent increase in flight operations and management service revenues and increased fractional aircraft sales. NetJets generated a pre-tax profit of $29 million for the first six months, versus a pre-tax loss of $31 million for the first six months of last year.