When people start to get laid off then you can say Netjets situation is only as bad as many airlines. As for a flawed business model, time will tell. At the moment the only model that has increasing load factors is the low cost model. How much money that model is making depends on who you believe!
As for accounting losses, they are an accountants tool to limit losses and tax reduction measures in the real world.
I really think Netjets will do well come the upturn, the rich do like a day out.
D and F
