Finance, Taxes, Insurance
NetJets, FlightSafety See 11.8% Revenue Growth in Q1
Increased aircraft ownership and flight hours drove gains
Phenom 300

Berkshire Hathaway’s aviation services businesses—NetJets and FlightSafety International—generated 11.8% year-over-year revenue growth in the first quarter, the conglomerate reported on Saturday. This increase was primarily due to the higher number of aircraft in shared ownership programs, and in-flight hours flown and higher average rates, at NetJets, according to Berkshire Hathaway’s latest earnings report.

“The increase in demand, in part, was attributed to customers responding to potential further price increases and supply chain concerns,” the report notes, “including extended inventory order lead times,” alluding to 12- to 36-month lead times for new-production business aircraft.