Charter & Fractional
Mx and Personnel Costs Cut Berkshire Hathaway Earnings
The company's aviation revenues grew while earnings dropped
Phenom 300 (Photo: NetJets)
NetJets first-quarter 2024 aviation revenues climbed while earnings decreased.

Berkshire Hathaway’s first-quarterly report of 2024 showed that revenues from its service group, which includes fractional-share operator NetJets and training provider FlightSafety International, declined $168 million or 3.2 percent year-over-year (YOY). However, that decline was mostly due to TTI, an electronic components distributor. The service group’s aviation segment saw revenues grow by 8.6% YOY.

During the first quarter, the revenue increase for aviation "was primarily due to increases in the number of aircraft in shared aircraft ownership programs and an increase in flight hours across NetJets’ various programs, as well as higher average rates,” according to the Berkshire Hathaway Form 10-Q report.

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