An Upbeat Forecast for Fractional Share Provider NetJets

Fractional-share market leader NetJets--which lost more than half a billion dollars in the first three quarters of 2009--will likely become profitable again in 2010. That's the prediction of NetJets owner Berkshire Hathaway in its third-quarter report, issued November 6. According to the report, the Columbus, Ohio-based NetJets "is likely to operate at a modest profit in 2010, absent any further deterioration in the U.S. economy or negative actions directed at the ownership of private aircraft." The report added that the company could face "further downsizing costs" in the fourth quarter of 2009. Guy Spier, a principal at hedge fund Aquamarine Funds, suggested in an interview with Bloomberg.net that he considered the forecast feasible. "In a perverse way, it's possible that the recession has caused more companies to go to NetJets," said Spier, whose firm owns shares in Berkshire Hathaway.