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AmyWilder

FlightSafety International is an aviation training provider with global reach. They offer comprehensive programs for pilots, maintenance technicians, cabin crew, and dispatchers. Their state-of-the-art training centers and experienced instructors ensure top-notch training, adhering to strict standards, and promoting safety and proficiency in the industry.

Berkshire Hathaway’s services division, which includes NetJets and FlightSafety International, reported that revenues increased by half a percentage point in the fourth quarter to $20.7 billion. The services group also includes electronic components distributor TTI, Dairy Queen, and logistics company XTRA.
Aviation services revenue shined in the group, increasing 9.1% year over year (YOY) in 2024, according to the company's just-released <a href="https://berkshirehathaway.com/2024ar/2024ar.pdf">financial report</a>. This gain was attributed to an increased number of aircraft in NetJets' shared ownership programs versus 2023, as well as an increase in flight hours.
However, margins in the services businesses continued a downward trend, at 11.1% in 2024, shrinking 3.4 percentage points from 2023 after a decrease from 16% in 2022. Pre-tax profits declined 23% YOY, which Berkshire Hathaway attributed in part to a 51% decline in TTI earnings due to lower sales and increased expenses.
While revenues were up, “earnings from aviation services declined 10.9% in 2024 versus 2023, primarily attributable to increased costs of services and leasing, driven by higher flight crew [costs], maintenance, fuel costs, and depreciation expense, as well as increased impairment charges,” the report notes.

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

Berkshire Hathaway Aviation Services Reports 9.1% Revenue Jump in 2024

Pre-tax earnings percentages fall amid higher service costs, lower sales

Berkshire Hathaway’s aviation services division reported a 9.1% YOY revenue increase in Q4. Pre-tax earnings fell due to higher costs and lower TTI earnings.

NetJets Logs More Growth in 2024 as Revenues Climb 9.1%

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In this article

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