NetJets, FlightSafety Flying High

BJT Waypoints
Warren Buffet, CEO of Berkshire Hathaway
Thursday, November 17, 2011 - 11:30pm

Third-quarter pretax earnings at Berkshire Hathaway’s “other services” division, which includes FlightSafety International and NetJets, climbed 15 percent from the same quarter last year, to $281 million. The increase reflects stronger demand for pilot training at FlightSafety and, at Netjets, higher revenues, more favorable foreign currency exchange rates and slightly better operating margins. Berkshire noted that FlightSafety’s earnings rose primarily because of increased training demand in the business aviation and regional airline markets.

 

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“When you get into the larger aircraft it becomes like a hotel, with dozens of staff supporting the plane based in a galley area down below. You have very comprehensive cooking facilities, and on larger aircraft we have looked at theatres, with spiral staircases and a Steinway grand piano. The limitations for what you can put inside a plane are pretty much the limits of physics, and even money cannot always overcome that. Even so, people are still always trying to push [the limits]. ”

-Howard Guy of Design Q, a UK-based consultancy