Buffet reveals NetJets losses
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Buffet reveals NetJets losses
In 2009, NetJets’ revenues declined $550 million (43%) for the second quarter and $1,024 million (42%) for the first six months as compared to 2008. The declines reflected an 81% decline in aircraft sales as well as a 22% decline in flight operations revenues primarily due to lower flight revenue hours. NetJets produced pre-tax losses in 2009 of $253 million for the second quarter and $349 million for the first six months. The pre-tax losses included asset writedowns and other downsizing costs of $192 million for the second quarter and $255 million for the first six months. NetJets owns more planes than is required for its present level of operations and further downsizing will be required unless demand rebounds.
$Quarter of billion loss - no small beer!
The new boss has got his work cut out....watch this space
$Quarter of billion loss - no small beer!
The new boss has got his work cut out....watch this space
Join Date: Feb 2008
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Netjets US-NJE
Does anyone know the real relationship between NJUS and NJE.
I understand there is some sort of share structure, but have never been able to get a clear picture.... and it is suggested that MB has a majority share of NJE, but the numbers are reported through BH. (but are mentioned only sporadically in the reports).
All opinions considered, but hard facts would be great.
DJ
I understand there is some sort of share structure, but have never been able to get a clear picture.... and it is suggested that MB has a majority share of NJE, but the numbers are reported through BH. (but are mentioned only sporadically in the reports).
All opinions considered, but hard facts would be great.
DJ
