Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results, released on Saturday.
Charter and Fractional » Fractional
News and issues concerning the fractional-ownership industry and markets, including company announcements, regulations, new developments and labor issues.
March 1, 2011 - 5:30am
Lufthansa has decided to close its Swiss Private Aviation (SPA) subsidiary and is set to seal a new deal with NetJets Europe to provide charter flights for its Lufthansa Private Jets service.
February 17, 2011 - 10:15am
Lufthansa has decided to close its Swiss Private Aviation (SPA) subsidiary and is set to seal a new deal with NetJets Europe to provide charter flights for its Lufthansa Private Jets service.
January 20, 2011 - 10:52am
Overall business aircraft flight activity climbed 4.4 percent last month year-over-year, bolstered by a double-digit-percent resurgence in Part 91 corporate operations, according to TraqPak data released today by aviation services company Argus. Part 91 flying climbed 10 percent in December compared with the same month in 2009, which followed a year-over-year 12.2-percent increase in November.
January 11, 2011 - 9:54am
Overall business aircraft flight activity climbed 4.4 percent last month year-over-year, bolstered by a double-digit-percent resurgence in Part 91 corporate operations, according to TraqPak data released today by aviation services company Argus. Part 91 flying climbed 10 percent in December compared with the same month in 2009, which followed a year-over-year 12.2-percent increase in November.
November 30, 2010 - 10:29am
Comlux The Aviation Group has opened Comlux Middle East, based in the Kingdom of Bahrain, and is adding greater substance to a portfolio of aircraft management and executive charter services in the region.
November 16, 2010 - 11:17am
The financial records at French air charter operator Blue Line are being scrutinized following the company’s compulsory liquidation on October 6 with debts of €37 million ($52 million). The suddenness of the 200-employee company’s demise prompted the judge in charge of the liquidation to tap a certified public accountant to investigate Blue Line’s financial affairs. A preliminary report is to be released by year-end.
November 9, 2010 - 11:06am
Berkshire Hathaway on Friday reported that revenues at its NetJets fractional aircraft subsidiary climbed 17 percent during the first nine months of 2010 versus a year ago “due to an increase in worldwide flight revenue hours and increased fuel cost recoveries, partially offset by lower management fees due to fewer aircraft in the NetJets program.” According to the third-quarter financial report, NetJets logged pre-tax earnings of $158 millio
October 27, 2010 - 11:33am
Embraer announced at the NBAA Convention last month that fractional provider NetJets signed an agreement to purchase 50 Phenom 300 light jets and has an option to buy 75 more. At current list prices, the deal could be worth more than $1 billion. The aircraft, which the Brazilian manufacturer expects to begin delivering in 2013, will be specially equipped for the Berkshire Hathaway-owned NetJets and called Phenom 300 Platinum Edition.
October 20, 2010 - 11:06am
Directional Aviation principal Kenn Ricci has been quietly amassing an empire of business aviation companies, including Nextant Aerospace and Constant Aviation, as well as having a minority share in fractional provider Flight Options. AIN talked with him on the show floor of the 2010 NBAA Convention to get his perspective.
