From the 2009 Q1 report:
"Revenues of NetJets in 2009 as compared to 2008 declined significantly as a result of an 80% decline in aircraft sales as well as lower flight
revenue hours. The decrease in revenues and pre-tax earnings reflects the negative impact of the global recession on
substantially all of Berkshire’s other service businesses and in particular, NetJets’ fractional ownership business which reported
a pre-tax loss of $96 million (includes writedowns of aircraft of approximately $55 million) as compared to pre-tax earnings of
$45 million in 2008. "
Tophe: Your remark that it only encompasses certain parts of NetJets businesses is incorrect, in the report from uncle Warren all NetJets activities are included in the same number....
Every NetJets entity is trying to save money at the moment. For NJE it means they have roughly 300 pilots too much and a cadet scheme (althoug no new entries in the programme anymore) in place while no pilots are needed.
Future will tell which people wil be held accountable for this situation....hope it is not the pilots, but rather Santa Claus at NJE or so.....