The majority of that $2 billion in debt repayment came from selling the old aircraft out of the fleets. You can't count that as profits any more than you can count the residual value of your car when you sell it as profit.
NJA profits are decent, but pale in comparison to other Berkshire companies.
As I've said before, the pilots deserve a good raise and by all indications from both sides, they will get one.
The leaders of the company are charged with making sure the company will remain profitable in good times and bad, so they have to make decisions that balance the needs of all parties that make the NetJets team.
All this talk about matching airline pay rates is not sustainable for NetJets in the long run. Many on this board conveniently ignore all of the differences between NJ and the airlines when they make those demands.
If AJ and Bill were to agree to such demands, how long would it be until economic reality caught up with NJ, resulting in those two being deposed and NJ being saddled with another accountant or a lawyer as CEO? That's a scenario I frankly don't want to see again.
If you guys can't work with AJ and Bill then who can you work with?