Berkshire Hathaway’s Aviation businesses, NetJets and FlightSafety, have taken off. In the first quarter of 2023, their revenues saw an impressive 18.8 percent year-over-year growth. This is a testament to the strong performance and demand for these aviation services.
Berkshire Hathaway’s overall operating earnings for Q1 2023 hit a remarkable $8.065 billion. This is a significant increase from the first quarter of 2022, which recorded earnings of $7.160 billion.
“The revenue increase was primarily due to increases in the number of aircraft in shared aircraft ownership programs and in flight hours across NetJets’ various programs, as well as higher average rates,” the company stated in its Form 10-Q.
© 2023 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 a 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.