Cash at Berkshire Hathaway increased to $381 billion as higher prices, more private jets, and more flight hours at NetJets helped the gains.
Operating profits at wholly owned businesses of Berkshire Hathaway increased 33.6% as NetJets helped boost gains in the services group.
NetJets, Inc. includes both NetJets and Executive Jet Management.
They are the world’s largest provider of private jet flights.
The aviation group also includes FlightSafety.
All are in Berkshire Hathaway’s Service Group.
The Service group includes TTI, a distributor of electronic components; Dairy Queen; leased transportation equipment XTRA; and a Miami-based TV station, among others.
Q3 Service revenue grew to $5.8 billion.
That represented a $622 million year-over-year gain.
Growth was 12.1% year over year.
Pre-tax Service earnings in Q3 were $678 million, up from $569 million a year ago.
For the first nine months, Service revenue was $16.9 billion.
Aviation services revenues were up 9.7% year-to-date compared to 2024.
Earnings for the Service group increased from $1.79 billion to $2.06 billion year to date in 2025.
A larger fractional fleet, more flight hours, and higher NetJets rates were cited as growth drivers.
Per Berkshire Hathaway’s Q3 2025 10-Q
‘Service group revenues increased $622 million (12.1%) in the third quarter and $1.4 billion (9.2%) in the first nine months of 2025 compared to 2024. The revenue increases in each period were primarily attributable to higher revenues from aviation services (9.7% year-to-date), IPS (23.9% year-to-date), and TTI (7.9% year-to-date). The revenue increases from aviation services reflected increases in the number of aircraft in shared aircraft ownership programs and in-flight hours across NetJets’ various programs and higher average rates. The increases at TTI reflected higher customer demand in certain geographic regions. The increases at IPS were attributable to revenues from life sciences and data center design, construction management, and other construction consulting services.’
Per CNBC’s analysis of the Berkshire Hathaway results, the company’s “cash hoard swelled to a record $381.6 billion, surpassing the previous high of $347.7 billion set in the first quarter of this year.”
Overall, CNBC said, “operating profit generated from the conglomerate’s wholly owned businesses, including insurance and railroads, jumped 34% year over year to $13.49 billion in the third quarter. The gains were driven by a more than 200% surge in insurance underwriting income, which rose to $2.37 billion.”
Find the perfect solution for your private aviation needs
Save Time. Buy Confidently.
Receive an apples-to-apples comparison of programs that meet your needs from more than 500 jet card and fractional options covering 65 points of differentiation and over 40,000 data points.
