Business is booming at Berkshire Hathaway’s NetJets, with the company experiencing record demand that has eclipsed anything in its 57-year history.
The company has been forced to pause its sales of fractional shares, leases, and jet cards for its Cessna Citation XLS and Embraer Phenom 300 jets because of “unprecedented demand within the private travel industry,” AIN reports.
NetJets is currently hiring 150 pilots to meet the demand, and is also hiring additional service personnel. It aims to have 100 pilots fully trained by October.
The company will add 39 new private jets to its U.S. fleet by the end of 2021, and is scheduled to add 40 planes a year over the next decade.
© 2021 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.