Originally Posted by
AirbusA320
Even before 9/15 Warren Buffet had nasty remarks about the aviation business. Everyone is getting slammed by this recession and they way I see it, unless an operation and customers has deep pockets they won't make it. Customers of Net Jets are marginal clients to begin with and I think this downturn will take them out.
I know Buffett had nasty things to say about the
AIRLINE business (in the aftermath of his experience with US Air), but last time I checked, he's never said anything negative about NetJets.
At company recurrent, one of our execs that spoke to my class said sales were off by 10% from the 2007 numbers, but we'll still finish the year posting a profit. I'm not so sure about the rest of the fractional industry because in the same sentence he said sales for our competition are off as much as 40%.
FWIW
I've worked for 2 different airlines that had filed for bankruptcy, then eventually liquidated. -- I'm no expert, but I've noticed certain patterns and "warning signs" that seem to surface when a company starts the "downward slide." So far, I have yet to see anything remotely familiar on that front. Nothing is certain, but I'm not worried about his place.