Berkshire Hathaway 3rd QTR 10K

[gunfyter]

Flight Services​

Flight services revenues in the third quarter and first nine months of 2006 increased $271 million (32%) and $644
million (25%) as compared to 2005. Revenues from NetJets’ fractional aircraft ownership business for the first nine
months of 2006 increased $612 million (30%) over 2005, reflecting a 24% increase in flight operations and management
service revenues and increased fractional aircraft sales. In 2006, occupied flight hours increased 18% and average hourly
rates increased as well. The number of aircraft managed within the NetJets program over the past twelve months has
increased 13%. Revenues for the third quarter and first nine months of 2006 from training (FlightSafety) increased 3% and
6% over the comparable 2005 periods. The revenue increases were primarily due to increased corporate aviation demand
and price increases. In 2006, pre-tax earnings of the flight services businesses totaled $103 million in the third quarter and
$234 million for the first nine months compared to $42 million and $100 million for the comparable 2005 periods. The
major portion of these increases related to the NetJets fractional ownership business. The improvement in operating results
at NetJets reflected a decline in subcontracted flights that are necessary to meet peak customer demand, increased
management and usage revenues and increased margins from fractional aircraft sales somewhat offset by higher interest,
depreciation and payroll expenses.​

http://www.berkshirehathaway.com/qtrly/3rdqtr06.pdf



GVFlyer should be happy. We are making him richer than he already is.​

 

[RTRHD]

Good news.

 

[gunfyter]

Yes, yes it is...

Berkshire said its non-insurance businesses are also doing well, and the company singled out the performance of its fractional private jet ownership business, NetJets. Berkshire's flight services businesses, which includes NetJets and the FlightSafety training division, reported pretax earnings of $103 million, up from $42 million last year.​

http://www.kiplingerforecasts.com/apnews/XmlStoryResult.php?storyid=257974​

 

[Diesel]

Great news. We are all pulling hard to make sure this company is the most profitable ever.

Looks like the company is working just fine with the new pay rates.

 

[GVFlyer]

The way I read it - NetJets pre-tax earnings were $58 million for Q3 and $119 million year-to-date.

In this report it was very easy to break-out NetJet financials from FSI earnings as opposed to previous reports. Flight services pretax was $103 million Q3 and $224 million year-to-date up 134% Y/Y YTD.

Congratulations guys - this is the first real proof that the fractional concept is a viable business model.

GV

 

[RTRHD]

I would like to thank American, Delta,United, Com Air, and most of all the TSA.

Sorry just being a smarty pants. (Kind off)

 

[Spooky 2]

I would like to thank American, Delta,United, Com Air, and most of all the TSA.

Sorry just being a smarty pants. (Kind off)

Man isn't that the truth. If the airlines were half as good as their own opinions of themselves, corporate aviation would be much smaller. It can only get better. Now of course, since they cannot begin to compete withit the fractionals for service and convienence, they along with the ATA would like to impose user fee's as a roadblock to alternates means of travel. Never underestimate the power these criminal organizations have and are willing to use so as to get their way in Congress.

 

[RNObased]

I would like to thank American, Delta,United, Com Air, and most of all the TSA.

Sorry just being a smarty pants. (Kind off)

Now, that is funny, but true....

 

[wolfpackpilot]

What this should really tell pilots:

Valuable contribution to your company has its positive benefits to BOTH employer and employee. I was always supportive of a better deal for the NJA pilots. I hope both sides realize the benefits of respect and build a new future together.

If you don’t work for NetJets…. You should.

Why you ask?

We have the deepest pockets out there, and our operation models (bean counters, pilots, planes, owner contracts) are working…. While the pilots at NetJets are the highest paid in the business, deservingly so I may add.

Not to mention we’re making $$.

 

[Mach92]

I hear 175-300 million profit for 2006. I do remember how they said "were broke" YEA RIGHT! Amazing what motivated pilots can do for the bottom line.