Matt Thurber, editor-in-chief at AIN Media Group, has been flying since 1975 and writing about aviation since 1978 and now has the best job in the world, running editorial operations for Aviation International News, Business Jet Traveler, and FutureFlight.aero. In addition to working as an A&amp;P mechanic on everything from Piper Cubs to turboprops, Matt taught flying at his father’s flight school in Plymouth, Mass., in the early 1980s, flew for an aircraft owner/pilot, and for two summer seasons hunted swordfish near the George’s Banks off the East Coast from a Piper Super Cub. An ATP certificated fixed-wing pilot and CFII and commercial helicopter pilot, Matt is type-rated in the Citation 500 and Gulfstream V/550. Based in the Pacific Northwest, Matt and his team cover the entire aviation scene including business aircraft, helicopters, avionics, safety, manufacturing, charter, fractionals, technology, air transport, advanced air mobility, defense, and other subjects of interest to AIN, BJT, and FutureFlight readers.

Editor-in-Chief

Matt Thurber

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.
Pre-tax earnings for the service group declined $246 million (29.4%) YOY in the first quarter. Part of that decline was due to a 10.3% drop in aviation services earnings. “The decline in aviation service earnings was primarily attributable to increased maintenance and personnel costs, which reduced the overall margin rates,” the company said.
Although NetJets and the pilot union NetJets Association of Shared Aircraft Pilots <a href="https://www.ainonline.com/aviation-news/business-aviation/2024-04-17/netjets-pilot-union-votes-ratify-tentative-agreement">ratified</a> a tentative agreement on higher salary and benefit levels, this wouldn’t have affected the first-quarter earnings because the higher salaries didn’t take effect until May 1.

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Maintenance and Personnel Costs Cut Berkshire Hathaway Earnings

The company's aviation revenues grew while earnings dropped

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."

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NetJets

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