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AmyWilder

FlightSafety International is an aviation training provider with global reach. They offer comprehensive programs for pilots, maintenance technicians, cabin crew, and dispatchers. Their state-of-the-art training centers and experienced instructors ensure top-notch training, adhering to strict standards, and promoting safety and proficiency in the industry.

Third-quarter revenues at Berkshire Hathaway’s aviation services, which includes NetJets and FlightSafety International (FSI), soared 10.4% year over year, <a href="https://www.ainonline.com/aviation-news/business-aviation/2024-08-15/stronger-flight-and-training-hours-boost-netjets-fsi">echoing second-quarter numbers</a>, and marking a 9.8% increase in the first nine months. However, pre-tax earnings for aviation services fell 17.5% versus third-quarter 2023.
This revenue growth was primarily driven by fractional provider NetJets, which continued to benefit from increased flight activity and demand for private aviation. Despite rising operating costs, including those for maintenance, personnel, and fuel, NetJets and FSI have been key contributors to the growth of <a href="https://www.berkshirehathaway.com/qtrly/3rdqtr24.pdf">Berkshire’s aviation division</a>. FSI benefitted from increased demand for aviation training and simulation services, but similar to NetJets, it has been facing rising costs that have tempered its gains.
According to data from Jefferies and WingX, NetJets’ departure numbers were up 55% from pre-pandemic levels in 2019 and 10% higher year over year. This surge reflects the broader recovery in business aviation, which has been fueled by demand for private flight services as businesses and individuals continue to favor the flexibility and safety of private aircraft, according to Jefferies.&nbsp;The growth in NetJets' flight departures stands out in the business aviation sector, with global business jet departures up 32% overall in October versus 2019 levels.
Berkshire Hathaway’s broader service group—which includes the aviation services companies and other businesses such as Dairy Queen, logistics company XTRA, and electrics components distributor TTI—reported total revenues of $5.13 billion in the quarter, a slight increase from the previous year.&nbsp;Despite the revenue gains, the services group reported a 26.3% decline in pre-tax earnings for the same periods and cited lower sales and price competition at TTI as a major cause.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Berkshire’s NetJets, FlightSafety Post Strong 3Q Revenue Amid Rising Costs

Aviation services lead revenue gains, but earnings take a hit

Berkshire Hathaway reports 10.4% year-over-year aviation service revenue growth in Q3 but an earnings dip in the service sector due to higher operational costs.

NetJets, FSI Post Strong 3Q Revenue Amid Rising Costs

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In this article

NetJets

FlightSafety International

More In Finance, Taxes, Insurance

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Medical and passenger flight demand increased alongside revenues

Vertical Pushes Back eVTOL Certification, Says New Funding Will Come

UK company is not the only eVTOL aircraft developer facing delays in the launch of commercial operations

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