Net Jets to Furlough 500...??? Right...

[CRJFlyer]

I think flight options is the only fractional left..everyone else went outta business this month. Netjets had catostrophic furloughs...But the pilots never found out about them...We still think we are employed...:smash:

 

[amaineiac]

When Richard Branson, the wealthy owner of Virgin Atlantic Airways, was asked how to become a millionaire, he had a quick answer: "There's really nothing to it. Start as a billionaire and then buy an airline."

Fractionals aren't the same as airlines.

I liked and admired Ed Colodny, the company's then-CEO, and I still do. But my analysis of USAir's business was both superficial and wrong. I was so beguiled by the company's long history of profitable operations,

Glasspilot said NetJets never made any money. My point was that WB would not buy a company that never made any money.

 

[X-rated]

is XO Jet out of business yet?

Nice Try. Sorry dude, Not gonna bite.

 

[corpflunkie]

BRK 2Q Report​

http://www.berkshirehathaway.com/qtrly/2ndqtr07.pdf​

Revenues from the other service businesses in the second quarter and first six months of 2007 increased $530 million (35%) and $869 million (32%), respectively, compared to 2006. Pre-tax earnings in the second quarter and first six months increased $74 million (36%) and $152 million (57%), respectively, compared to 2006. These results were primarily due to significantly improved results at NetJets as fractional sales and flight operations revenues for the first six months of 2007 increased $474 million over 2006. Pre-tax earnings of NetJets for the first six months of 2007 were $109 million in 2007 compared to $29 million in 2006. In 2007, operating margins increased reflecting higher aircraft utilization rates as revenue flight hours increased approximately 15%. Also contributing to the improved results of NetJets were the effects of price increases and a change in the mix of aircraft flown. The number of aircraft managed within the NetJets program over the past twelve months increased 15%.​

This breaks down to $80M INCREASE in profit during first 6 months of 2007 compared with 2006.

$55 M Increase for the first Quarter and a $25M increase for the 2nd quarter.

Profit in 2006 stated in the annual report was $143. Doing a little math .. that means profit for the LAST six months of 2006 were $114M.

$114M + $109M = $223M in profit over last 12 months!
__________________

This still doesn't strictly show NetJets financials. "Revenues from the other service businesses" tells me that these numbers include more than one company to include Flightsafety. As a group, those are good numbers. $109m pretax (EBITA) = what net? That is the number no one can seem to find. I am not a hater. If you guys start to really hurt, the rest of us are in deep poop.

 

[pilotyip]

Just got a call from a NJ pilot, looking for a job at USA Jet. He said a letter was coming out in 10 days annoucing up to 1000 pilot lay offs, and he was worried.

 

[shroomwell]

Did you get turned down by NJ, yip? Quit spreading B.S.

 

[Pervis]

Did you get turned down by NJ, yip? Quit spreading B.S.

S--t Stains like that don't even deserve a response.

 

[pilotyip]

Nope, never applied

S--t Stains like that don't even deserve a response.

Only passing along what was told to me by a NJ pilot, he worried. Why is it when reality is dealth with at this site we get the above responses? Oh I forget it is FI.

 

[gunfyter]

This still doesn't strictly show NetJets financials. "Revenues from the other service businesses" tells me that these numbers include more than one company to include Flightsafety. As a group, those are good numbers. $109m pretax (EBITA) = what net? That is the number no one can seem to find. I am not a hater. If you guys start to really hurt, the rest of us are in deep poop.

"... Pre-tax earnings of NetJets for the first six months of 2007 were $109 million in 2007..."

Reading is fundamental....

 

[Midge]

S--t Stains like that don't even deserve a response.

pilotyip=Curr Position: DA-20 Standards Manager

Nuff said.