Sokol JSC, a Russia-based maintenance provider, has signed an agreement with GE Aviation to become an authorized service center for the M601 and H80. Under the agreement Sokol JSC will provide all aspects of line maintenance as well as on-wing heavy repair, troubleshooting, TBO extension inspections and a stock of spare parts.
Berkshire Hathaway’s audit committee claims that former NetJets chairman and CEO David Sokol violated “the highest standards of business ethics” maintained by NetJets parent Berkshire Hathaway in his trading of shares in Lubrizol. Sokol resigned from Berkshire Hathaway on March 28.
On March 28, David Sokol resigned from his job as chairman of several Berkshire Hathaway-owned companies, including fractional-share provider NetJets. NetJets president Jordan Hansell took over as chairman and CEO.
As you've probably read, NetJets chairman and CEO David Sokol resigned abruptly from that company and parent firm Berkshire Hathaway on March 28, after questions arose about his purchase of stock in a firm that Berkshire subsequently offered to buy.
Yesterday’s announcement that NetJets chairman and CEO David Sokol resigned from his post at that company and two other Berkshire Hathaway-owned firms took the aviation industry, Wall Street and just about everyone else by surprise. Sokol notably turned NetJets around, yet his elimination of redundant aircraft and personnel at the top from the fractional-jet provider was not without its critics.
David Sokol has resigned from his job as chairman of several Berkshire Hathaway-owned companies, including fractional-share provider NetJets. According to a statement issued late this afternoon by Berkshire Hathaway’s Warren Buffett, Sokol’s assistant submitted the resignation letter to Buffett late in the day on Monday, March 28.
"Those of us in this room will feel pretty good five years from now," predicted David Sokol, chairman, president and CEO of NetJets. "Time is the friend of good businesses." Sokol made the comment yesterday at Dassault Falcon's annual NBAA "family breakfast," where he was the guest speaker and revealed plans for NetJets to open an outlet in China. Dassault Falcon hosted the event at the Omni Atlanta CNN Center.
NetJets’ new chairman and acting CEO, David Sokol, has barely been at the helm of the fractional provider a week, but he isn’t wasting any time in restructuring the company that lost nearly $350 million in the first half of this year.
First shown as a model at a 1990 Moscow exhibition, the single-turboprop M-101T Gzhel is nearing Russian certification, expected by the end of the year, following a major airframe refinement program that was launched two years ago after tests on the first prototype. A product of the Myasishchev Experimental Design Bureau, the program was delayed for a year by the crash of one aircraft after a loss of lateral control.
Zhukovsky, Russia-based Myasishchev has received Russian AP-23 type certification for its M-101T business aircraft. The M-101T has a pressurized cabin and a single 760-shp Walter M601-22F turboprop driving on Avia V-510 propeller.
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