NETJETS LOSS
The world's largest fractional ownership provider NetJets lost $711 million in 2009 and is so debt-laden that without the guarantee of parent company Berkshire Hathaway it "would have been out of business," says company chairman Warren Buffett in his annual letter to shareholders. "In the 11 years that we [Berkshire Hathaway] have owned the company, it has recorded an aggregate pre-tax loss of $157 million," Buffett says. "Moreover, the company's debt has soared from $102 million at the time of purchase to $1.9 billion in April of last year," he continues. However under new chairman David Sokol, NetJets reduced its debt from $1.9 billion to $1.4 billion last year and Buffett said that "as a result of actions taken to date, NetJets is likely to operate at a profit in 2010."
TAJ FLEET
Indian charter operator Taj Air has added a Dassault Falcon 2000LX business jet and a Piaggio P180 Avanti II twin turboprop to its growing fleet. The Mumbai-based operator, which is exclusive distributor for the Avanti II in Bhutan, India, the Maldives, Mauritius, Nepal, Pakistan and Sri Lanka also offers maintenance on both types.
SIMULATOR APPROVAL
SimCom Training Centre has received US level C approval for its Dassault Falcon 20 and Israel Aerospace Industries Westwind II simulators. Acquired late last year from CAE, the devices are located at SimCom's Park South training centre in Orlando, Florida. Before entering service with SimCom, both simulators were updated with widescreen visual systems and will be outfitted in the second quarter with instructor operating stations.
FLEXJET OFFER
In an effort to boost its block charter jet card tally, Bombardier Flexjet is offering new and existing customers of its Flexjet 25 programme five additional flight hours at a discounted rate.
Source: Flight International
