If Berkshire Hathaway’s first-quarter results are any indication, its NetJets subsidiary will record a profit this year, compared with the $80 million in losses the fractional aircraft provider recorded last year. The investment company’s flight-services division, composed of NetJets and FlightSafety International, had $919 million in revenues in the first quarter–a $152 million or 20-percent increase over the same period last year.
Twenty years after its birth, the fractional concept is finally a mainstream part of the business aviation industry. It didn’t start out that way, and one need only look at the current chorus of very light jet air-limo naysayers to get an idea of how the business aviation community reacted to fractional aircraft ownership in 1986.
What’s old is new again. We’ve heard it so often, it must be true, and those who believe it will not be surprised to see refurbished Hawker 1000s rolling out of the shops at Duncan Aviation and Elliott Aviation.
Ten years since it first offered fractional ownership outside the U.S., NetJets Europe (NJE) has reported the passing of two milestones in recent months. In March it signed its 1,000th customer and in June took delivery of its 100th aircraft.