“Don’t play games that you don’t understand, even if you see lots of other people making money from them. ”
NetJets, FlightSafety Flying High
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.