Santulli Returns to Aviation with Launch of Milestone Aviation Group
Richard Santulli, who resigned as CEO of NetJets in August 2009, has returned to the aviation industry with the launch of Milestone Aviation Group. Mr. Santulli secured initial funding of $500 million of equity capital and will serve as Chairman ...
NetJets Europe Performance Improves in First Quarter
The Financial Times published a special report on corporate aviation in today’s newspaper which is also available as a PDF file download. The entire report is required reading for anyone following private aviation and particularly for those interested in trends ...
Sokol Expects Profitable Year for NetJets
I [Sokol at NetJets] n a recent interview with The Columbus Dispatch, NetJets Chairman and CEO David Sokol predicts that the company will be profitable this year and no further staffing reductions will be required "barring any major shifts in ...
NetJets European Rival Plans Expansion
The Financial Times has reported that a rival of Berkshire Hathaway's NetJets subsidiary will expand its presence in the global private jet market. Switzerland based VistaJet has hired Robert Hersov, a former executive from NetJets Europe. The company also announced ...
Berkshire Hathaway Posts Q2 2009 Results
Berkshire Hathaway reported results for the second quarter following the close of trading today. Operating earnings per share declined 21.7% to $1,147 per A share, down from $1,465 in the second quarter of 2008. Operating earnings per share for the ...
Another View of Private Aviation: V1 Jets CEO Andrew Zarrow
In the video contained in this post, CNBC's David Faber interviews Andrew Zarrow, V1 Jets International CEO. It seems like many of the trends discussed by Richard Santulli earlier in the week are confirmed in this interview in terms of ...
NetJets Richard Santulli Interview on Prospects for Private Aviation
In 1989, Warren Buffett spent $6.7 million to purchase a corporate jet for Berkshire Hathaway that he named The Indefensible, perhaps being somewhat embarrassed by an expense that nearly any company the size of Berkshire had long justified as essential ...
NetJets Faces Economic and Political Headwinds
In today's economic and political climate, few businesses seem less attractive than fractional aviation. Companies are under constant pressure to cut costs particularly in areas that could be perceived as frivolous executive benefits during a deep recession. Executives everywhere have ...