NetJets’ earnings fall on a 27% decline in flight hours

NetJets

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.

NBAA urges Yellen to expedite payroll support for private jet operators

private jet payroll support

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.

Major private jet operators apply for Payroll Support Program Extension Payments

psp support

The Consolidated Appropriations Act, 2021, authorizes the Treasury Department to provide up to $16 billion of payroll support to aviation providers. So far over 500 have applied

The U.S. Treasury Department has revealed the list of aviation providers who have applied for the $16 billion allocated for industry workers’ payroll support.

CARES Act 2: New COVID relief should be open to private aviation

CARES Act 2 private aviation

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.)

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