Finance, Taxes, Insurance
NetJets, FSI Post Strong 3Q Revenue Amid Rising Costs
Aviation services lead revenue gains, but earnings take a hit
businesspeople walk to a jet

Third-quarter revenues at Berkshire Hathaway’s aviation services, which includes NetJets and FlightSafety International (FSI), soared 10.4% year over year, echoing second-quarter numbers, and marking a 9.8% increase in the first nine months. However, pre-tax earnings for aviation services fell 17.5% versus third-quarter 2023.

This revenue growth was primarily driven by fractional provider NetJets, which continued to benefit from increased flight activity and demand for private aviation. Despite rising operating costs, including those for maintenance, personnel, and fuel, NetJets and FSI have been key contributors to the growth of Berkshire’s aviation division. FSI benefitted from increased demand for aviation training and simulation services, but similar to NetJets, it has been facing rising costs that have tempered its gains.