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.

NetJets reaches $2 million in donations to (RED)

NetJets

NetJets donates a portion of purchases from its (RED) Marquis Jet Card to support prevention, treatment, counseling, HIV testing, and care services

NetJets has reached a donation total of over $2 million to the Global Fund, the recipient of all (RED) monies, according to an update on its website.

NetJets sees big increase in new customers as Berkshire Hathaway reports Q3 financials

NetJets financials

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.

NetJets reboots Europe; plans to add 60 private jets

NetJets

The largest private jet operator in the world is taking a bullish approach towards the demand for private jet travel in a COVID-19 world

After taking a cautious approach at the beginning of the current COVID-19 pandemic, NetJets has turned into a bull.

In an email to customers today, NetJets president Patrick Gallagher wrote, “Private aviation fared much better and has rebounded faster, though it is not yet back to pre-pandemic levels.”

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