(BRK.A), (BRK.B)
Berkshire Hathaway’s NetJets has added its 100th jet, a Cessna Citation Latitude, to its Europe-based fleet, as part of its $2.5 billion fleet investment.
“NetJets is proud of its unwavering commitment to safety, service, and unmatched global access,” Christian Luwisch, executive director of NetJets Europe, said. “This landmark achievement is a testament to all at NetJets continuing to deliver exceptional service and access to our owners.”
Netjets has been experiencing record demand, and 55 aircraft to its global fleet of 800 aircraft in 2021. Its plans for 2022 include the purchase of more than 75 new aircraft, and the company has slowed the decommissioning of aircraft.
Looking towards a lower carbon future, NetJets signed a Memorandum of Understanding with German aerospace company Lilium for the prospective¬ sale of up to 150 Lilium electric vertical take-off jets, plus related after-market services.
The proprietary technology at the core of the Lilium Jet is Ducted Electric Vectored Thrust (DEVT), which has zero operating emissions.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.