Fractional aircraft specialist NetJets announced pretax earnings of $158 million for the first nine months of this year, contrasting with losses of $531 million for the same time frame last year. The increased earnings are attributed to increases in flight hours and lower fuel costs, though income from monthly management fees is down due to decreases in the fleet size. The news came from NetJets parent company, Berkshire Hathaway, led by financier Warren Buffett. The report also indicated that further downsizing of the fleet is expected.
NetJets Numbers Edge Into the Black
