NetJets' financial results
 

"The economy also led to a drop in business travel, causing Berkshire's NetJets unit, which provides private jet services to executives, to lose $96 million before taxes."

Big Sandy News

sign of the times...... I guess that's the problem with size, when you make money, you make more than the competition, but the same applies to loosing $$$.

And that 96 milliion is a loss for a quarter. It means that NetJets is losing over 1 million dollars per day. OUCH.

Probably due to owners trading in their 'quarter share' for an /8 quarter. NJA has to pay the refund.

Once that levels off, the bleeding will stop (or most of it)

But purchasing back a share does not equate to losing money. You buy back an assett which then becomes availalbe for resale. There must be another reason for losing all that money everyday. Then again, I confess I don't know about running a business. If I did, I'd be riding in the back instead of up front driving :)

Them winged assets are worth 15-25% less today than they were 12 months ago...

I expect that trend to continue, even after the DOW comes back.

I Dont.:)........ Im with Uncle Warren till the bitter end.

Keep this in mind though,

Our losses, as in owners leaving, have leveled off.

It's true we have more than a few airframes without revenue owners, but we have been able to depreciate the loss......AND now the cost of the "used" shares are considerably lower than they were a year ago making them more attractive to potential clients.

One attractive thing to new clients is our financial stability through Berkshire. If you need to "opt out" of your contract (there are clauses for doing so), you needn't worry about us devaluing the plane to refund pennies on the dollar.

Keep one last thing in mind as well. The 90 million dollar loss was Netjets worldwide....not just NJA. So who knows who is really losing what?

duplicated

Good point QSFlyer. I'd also like to point out that NJA has grown it's market share through out this whole ordeal. People simply don't feel safe with their money elsewhere these days. Take a look at flight aware at any given time and it's scary, not just for NJA but all of us. People don't understand if NJA is suffering it's bad for all of us; because NJA is the strongest of the bunch.

Currently on flight aware at 9pm on a Monday night; Citation shares has 1 airplane in the sky .....1!! Flex has 3 and Options has 5. NJA has 30.

Even for NJA this number (30) is very very low compared to a year ago; I think we all better pray that NJA does well. This "us versus them" attitude is so beyond ignorant at a time like this; because if NJA ever goes, I assure you the weaker companies would have been long gone by then.[/QUOTE]