NETJETS PROFIT
NetJets made a $158 million pre-tax profit in the first nine months of 2010 compared with a $531 million loss for the first three-quarters of 2009, according to the third-quarter earnings released by parent company Berkshire Hathaway. NetJets says customers were flying more although this was partly off-set by lower management fees and higher fuel costs.
"NetJets continues to own more aircraft than is required for present operations and we expect to continue to dispose selected aircraft over time," says Berkshire Hathaway, which snapped up jet card provider Marquis jet earlier this month for an undisclosed sum. "NetJets' operating cost structure has been reduced to better match customer demand, and we believe that NetJets will continue to operate profitably in the future." The Columbus, Ohio-based company placed orders and options last month for 125 Embraer Phenom 300s.
VIP MD-87
US aircraft maintenance and completion company Jet Works Air Center has been awarded a multi-million dollar contract from a Middle Eastern customer to convert a McDonnell Douglas MD-87 from commercial airliner into VIP configuration. The aircraft will feature a contemporary cabin seating up to 24 passengers. JWAC says it has refurbished one Boeing 737 and three Boeing Business Jets this year at its base in Denton, Texas.
SAFETY SEMINAR
The US Flight Safety Foundation has held the first-ever business aviation safety seminar in Asia targeted at the region's business and regulatory community. The Singapore-based event, held in partnership with the International Business Aviation Council, Asian Business Aviation Association, National Business Aviation Association and Singapore Aviation Academy, is an opportunity for leading safety groups to do their part to help guide a nascent industry with existing tools and best practices.
Source: Flight International
