NetJets achieved a three-fold rise in new customers for the year as Berkshire Hathaway reports a 14.3% “aggregate” revenue drop for NetJets and Flight Safety year-to-date
While it’s hard to decipher NetJets‘ financial performance from Berkshire Hathaway’s quarterly reports and other filings, it appears the world’s largest private aviation provider is weathering this recession much better than the last one.
Clay Lacy Aviation received $26.9 million while Jet Linx Aviation was given $20 million, according to U.S. Treasury documents
NetJets, Wheels Up, Flexjet, XOJET Aviation and related companies were notably absent from the Treasury Department’s list of COVID-19 aide recipients
See the full list of aviation companies receiving CARES Act Coronavirus financial support
In a list dated April 27th, the U.S. Department of the Treasury published names of 96 companies receiving some of the $32 billion earmarked to preserve aviation jobs. The list includes both airlines and private jet operators.
The act specified grants needed to be based on payroll expenses from April 2019 through September 2019, subject to proration. Funds must be used for the continuation of payment of employee wages, salaries, and benefits.