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 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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