NetJets Earnings Soar 19% Despite Weaker Revenues | Aviation International News

Charter & Fractional

NetJets Earnings Soar 19% Despite Weaker Revenues

Earnings boosted by lower subcontracting expense and a decline in losses from aircraft impairments and dispositions at the fractional provider.

Revenues soared 19 percent last year at fractional provider NetJets, despite lower revenues stemming from a slight erosion in aircraft sales. (Photo: NetJets)

By Chad Trautvetter • Online Editor

March 29, 2017

Despite slightly lower aircraft sales, fractional provider NetJets’ pre-tax earnings increased by 19 percent last year, “primarily due to lower subcontracting expense and a decline in losses from aircraft impairments and dispositions, partly offset by increases in depreciation and restructuring charges and reduced aircraft sale margins,” parent company Berkshire Hathaway said in its recently released 2016 results. In 2015 such earnings declined $46 million at NetJets as a surge in aircraft sales margins were more than offset by higher personnel, aircraft subcontracting and maintenance expenses. “A portion of the increase in personnel costs pertained to lump-sum payments made in connection with a collective-bargaining agreement reached with our pilots in the fourth quarter of 2015,” the company said.

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