Buffett: NetJets Is Success Story In 2010

By Kerry Lynch kerry_lynch@aviationweek.com

One year after declaring NetJets “the major problem for Berkshire,” Berkshire Hathaway Chairman Warren Buffett told shareholders in his annual letter Feb. 26 that the fractional aircraft ownership provider is a “huge success story” in year-to-year improvement. NetJets had posted $207 million pre-tax earnings in 2010, a $918 million swing from the 2009 losses.

Buffett last year had described a “staggering loss” of $711 ...

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