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.

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.)

FlyExclusive spotlights how the Paycheck Protection Program saved jobs

FlyExclusive

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.

FlyExclusive adds Europe, Hawaii, and Alaska

FlyExclusive

After launching a Jet Card program in April, the company is now adding a long-haul Gulfstream GIV-SP on-demand charter option

Plans call for a large-cabin, fixed-rate Jet Card program by year’s end

LGM Enterprises, the parent company of flyExclusive, said it has launched flyExclusive International. The move adds on-demand, long-range global service to its growing portfolio private jet charter and jet card options.

Flyers can now travel to Europe, Hawaii, Alaska, and other points. Customers will have access to Gulfstream GIV-SP aircraft with seating capacity for up to 16 passengers.

%d bloggers like this: