Increase in fleet and flight hours at NetJets helped push Berkshire Hathaway aviation revenues to a 10.4% year-over-year Q1 2025 increase.
Higher revenues at NetJets and FlightSafety helped boost Berkshire Hathaway’s services revenues to $5.49 billion in the first quarter of 2025.
NetJets, Inc., includes Executive Jet Management.
Revenues for the group increased from $5.15 billion during the same period in 2024.
The $342 million gain reflected a 6.6% increase.
Berkshire Hathaway said the increase was “primarily attributable to higher revenues from aviation services,” which increased by 10.4%.
“The revenue increase from aviation services was primarily due to increases in the number of aircraft in shared aircraft ownership programs and an increase in flight hours across NetJets’ various programs, as well as higher average rates,” per its SEC filing.
As of May 2025, NetJets and NetJets Europe had 797 private jets in their fleet.
Service group pre-tax earnings increased by 9.6% or $57 million.
However, the company noted, “The earnings increase from aviation services was primarily attributable to increased revenues, partially offset by higher flight crew, maintenance, fuel costs, and depreciation expense.”
Total revenues at Berkshire Hathaway for Q1 2025 were essentially flat at $89.7 billion from $89.9 billion.
On Saturday, Warren Buffett announced he would cede his CEO title to Greg Abel by the end of 2025.
CNBC reports that the move was approved by the Berkshire Hathaway board yesterday.
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