NetJets Predicting Profitable 2010

Aviation International News » June 2010
May 26, 2010, 10:06 AM

Berkshire Hathaway’s first-quarter financial report notes that revenues at its NetJets subsidiary grew by 18 percent year-over-year, generating positive pre-tax earnings of $57 million versus a pre-tax loss of $96 million in the same period last year. The growth in revenue was aided by a 7-percent increase in worldwide flight revenue hours and higher fuel cost surcharges, in addition to “a decline of about $50 million in aircraft impairment and inventory valuation charges compared to the first quarter of 2009.” NetJets also continues to “own more aircraft than required for present operations and we expect to continue to dispose of selected aircraft over time.” The fractional firm’s operating cost structure has been reduced to better match customer demand, however, “And we continue to believe that NetJets will operate profitably in the future.”

Share this...

Please Register

In order to leave comments you will now need to be a registered user. This change in policy is to protect our site from an increased number of spam comments. Additionally, in the near future you will be able to better manage your AIN subscriptions via this registration system. If you already have an account, click here to log in. Otherwise, click here to register.