Berkshire Hathaway’s Service group, which houses NetJets and Flight Safety, saw revenues drop by $1.15 billion (8.5%) in 2020 compared to 2019. Pre-tax earnings decreased $81 million (4.8%)
The world’s largest private jet operator, NetJets, Inc., saw a drop in flight hours and pre-tax earnings, according to Berkshire Hathaway’s 2020 annual report, released today.
Continue reading “NetJets’ earnings fall on a 27% decline in flight hours”
While major airlines have already received Payroll Support Program (PSP) commitments, private aviation operators are still waiting
The National Business Aviation Association has joined the Helicopter Association International, National Air Carrier Association, National Air Transportation Association, and the Regional Airline Association, urging U.S. Treasury Secretary Janet Yellen to expedite assistance for commercial general aviation and regional air carrier operators.
Continue reading “NBAA urges Yellen to expedite payroll support for private jet operators”
Private jet operators should be able to tap into the estimated in $15 billion in air carrier support
The newest legislation to provide ongoing COVID-19 relief is estimated to have $15 billion for the airlines. According to a spokesperson for the National Business Aviation Association, that should incorporate Part 135 private jet operators and other companies related to business aviation.
(Updated Dec. 22 @ 7:22 am – A full copy of the HR 133 – Consolidated Appropriations Act, 2021, can be downloaded at the end of this story.)
Continue reading “CARES Act 2: New COVID relief should be open to private aviation”
A Triangle Business Journal profile of FlyExclusive shows the jet card and charter operator used the CARES Act’s PPP to set the table for its recovery
According to a report in the Triangle Business Journal, close to 300 jobs at Kinston, North Carolina-based FlyExclusive and related companies were saved by the CARES Act’s Paycheck Protection Program. That totals include 75 newly hired positions.
Continue reading “FlyExclusive spotlights how the Paycheck Protection Program saved jobs”