Netjets post $200+ mil profit for 2010.

Reply Subscribe

Page 1 of 2

Thread Tools

Search this Thread

01-27-2011, 04:05 AM

UCLAbruins

Gets Weekends Off

Thread Starter

Joined APC: Apr 2007

Position: F/O- G-V/550

Posts: 1,163

Netjets records a $200 mil profit for 2010.

Hopefully other business jet operators report positive numbers and keep the momentun going.

The Columbus-based private jet operator, owned by Berkshire Hathaway, got a visit from the boss, Warren Buffett, on Sunday as the company kicked off its second annual managers meeting at the Hilton at Easton.
About 100 NetJets managers from the U.S. and Europe attended.

After a rough couple of years, the company is again hitting its business targets. After a loss of about $720 million in 2009, NetJets turned a profit of slightly higher than the goal of $200 million last year, said David Sokol, CEO of NetJets and several other Berkshire-owned companies, in an interview.

Buffett drops in on NetJets to help celebrate 2010 profit | The Columbus Dispatch

Last edited by UCLAbruins; 01-27-2011 at 09:15 AM. Reason: spelling

01-27-2011, 06:45 PM

Mattio

Gets Weekends Off

Joined APC: Jul 2010

Posts: 247

hell yeaaaaaaaaaaaaaa

01-29-2011, 04:29 AM

faipsrule

Line Holder

Joined APC: Jun 2007

Position: 757/767

Posts: 83

All it took was putting 495 on the street. What financial genius.

01-29-2011, 05:01 AM

HIREME

Gets Weekends Off

Joined APC: Jul 2005

Position: CA

Posts: 534

Recalls soon?

01-29-2011, 05:16 AM

FlyerJosh

Chief Jeppesen Updater

Joined APC: Oct 2005

Position: Executive Transport Driver

Posts: 3,080

Quote:

Originally Posted by faipsrule

All it took was putting 495 on the street. What financial genius.

Lots of companies (aviation and otherwise) furloughed or laid off people. As somebody who has lived through both a furlough and a company going tango uniform in Chap 7, it's not fun, but sometimes a necessary evil.

Hopefully the turn in profits mean that things are picking up and recalls will come soon.

01-29-2011, 07:03 AM

BeenThereDoneIt

Banned

Joined APC: May 2009

Posts: 158

It is good to see that a FRAC with unionized pilots can turn a profit. Maybe others will learn from that.

01-29-2011, 07:22 AM

SDFflyboy

CFI

Joined APC: Oct 2010

Position: CFI

Posts: 45

I think that we could all thank TSA for making commercial travel so awful that people will justify in their minds taking a private jet.

01-29-2011, 08:43 AM

UCLAbruins

Gets Weekends Off

Thread Starter

Joined APC: Apr 2007

Position: F/O- G-V/550

Posts: 1,163

Quote:

Originally Posted by SDFflyboy

I think that we could all thank TSA for making commercial travel so awful that people will justify in their minds taking a private jet.

sad but true. Convenience, service, TSA and the threat of terrorism will keep the well to do away from the airlines.... what happened in Moscow will reinforce the fractional-air charter-flight department cause.

01-31-2011, 12:15 PM

BeenThereDoneIt

Banned

Joined APC: May 2009

Posts: 158

I seriously doubt that TSA has much impact on Fractionals. Not many people will go from spending $300 on a ticket, to $8,000 on a private jet....simply to avoid 30 minutes in a security line. That doesn't make good business sense.

01-31-2011, 01:16 PM

#10

AKASHA

Gets Weekends Off

Joined APC: Jan 2010

Posts: 327

Quote:

Originally Posted by BeenThereDoneIt

There most certainly is a considerable piece of the market that can and will spend the money for private air transport due solely to the negative impact TSA has had on flying the airlines. I hear it from passengers on a regular basis.