NetJets Europe

April 1, 2011 - 5:15am

NetJets, the Berkshire Hathaway-owned fractional-share operator, completed a purchase agreement early last month for up to 120 new Bombardier Globals, a deal worth $6.7 billion if all aircraft options are taken. Notably, this is NetJets’ first order for Bombardier business jets; previous large-cabin acquisitions by the fractional provider have been for Gulfstreams and Falcons.

March 31, 2011 - 1:07pm

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.

March 30, 2011 - 2:20pm

Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results. Pre-tax profits at the division soared to $984 million, versus a $91 million loss in 2009.

March 30, 2011 - 1:57pm
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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.

March 2, 2011 - 9:07am

NetJets, the Berkshire Hathaway-owned fractional-share operator, completed a purchase agreement late last night for up to 120 new Bombardier Global jets, a deal worth $6.7 billion if all aircraft options are taken. Notably, this is NetJets’ first order for Bombardier business jets; previous large-cabin acquisitions by the fractional provider have been for Gulfstreams and Falcons.

March 1, 2011 - 10:15am

Revenues at Berkshire Hathaway’s “other services” segment–which includes fractional jet provider NetJets and flight-training company FlightSafety International–climbed by $770 million (up 12 percent year-over-year), to $7.4 billion, according to the company’s 2010 financial results, released on Saturday.

March 1, 2011 - 5:30am

Lufthansa has decided to close its Swiss Private Aviation (SPA) subsidiary and is set to seal a new deal with NetJets Europe to provide charter flights for its Lufthansa Private Jets service.

February 17, 2011 - 10:15am

Lufthansa has decided to close its Swiss Private Aviation (SPA) subsidiary and is set to seal a new deal with NetJets Europe to provide charter flights for its Lufthansa Private Jets service.

January 18, 2011 - 9:23am

Lufthansa is weighing possible new options for providing executive charter services through its Lufthansa Private Jets service. The process could lead to a resumption of its alliance with NetJets Europe, with a decision on this expected next month.

November 29, 2010 - 10:32am

Revenues at Berkshire Hathaway’s NetJets fractional aircraft subsidiary climbed 17 percent during the first nine months of this year versus a year ago “due to an increase in worldwide flight revenue hours and increased fuel cost recoveries, partially offset by lower management fees due to fewer aircraft in the NetJets program.” According to the third-quarter financial report, NetJets logged pre-tax earnings of $158 million in the first n

 
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