{"id":13331,"date":"2024-05-07T12:20:19","date_gmt":"2024-05-07T09:20:19","guid":{"rendered":"https:\/\/aviation-news.info\/?p=13331"},"modified":"2024-05-07T12:20:19","modified_gmt":"2024-05-07T09:20:19","slug":"mx-and-personnel-costs-cut-berkshire-hathaway-earnings","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=13331","title":{"rendered":"Mx and Personnel Costs Cut Berkshire Hathaway Earnings"},"content":{"rendered":"<p>Berkshire Hathaway\u2019s first-quarterly report of 2024 showed that revenues from its service group, which includes fractional-share operator NetJets and training provider FlightSafety International, declined $168 million or 3.2 percent year-over-year (YOY). However, that decline was mostly due to TTI, an electronic components distributor. The service group\u2019s aviation segment saw revenues grow by 8.6% YOY.<\/p>\n<p>During the first quarter, the revenue increase for aviation &#8220;was primarily due to increases in the number of aircraft in shared aircraft ownership programs and an increase in flight hours across NetJets\u2019 various programs, as well as higher average rates,\u201d according to the Berkshire Hathaway Form 10-Q report.<\/p>\n<p>Pre-tax earnings for the service group declined $246 million (29.4%) YOY in the first quarter. Part of that decline was due to a 10.3% drop in aviation services earnings. \u201cThe decline in aviation service earnings was primarily attributable to increased maintenance and personnel costs, which reduced the overall margin rates,\u201d the company said.<\/p>\n<p>Although NetJets and the pilot union NetJets Association of Shared Aircraft Pilots\u00a0<a href=\"https:\/\/www.ainonline.com\/aviation-news\/business-aviation\/2024-04-17\/netjets-pilot-union-votes-ratify-tentative-agreement\">ratified<\/a>\u00a0a tentative agreement on higher salary and benefit levels, this wouldn\u2019t have affected the first-quarter earnings because the higher salaries didn\u2019t take effect until May 1.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: <a href=\"https:\/\/www.ainonline.com\/aviation-news\/business-aviation\/2024-05-06\/mx-and-personnel-costs-cut-berkshire-hathaway-earnings\">https:\/\/www.ainonline.com\/aviation-news\/business-aviation\/2024-05-06\/mx-and-personnel-costs-cut-berkshire-hathaway-earnings<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Berkshire Hathaway\u2019s first-quarterly report of 2024 showed that revenues from its service group, which includes fractional-share operator NetJets and training provider FlightSafety International, declined $168 million or 3.2 percent year-over-year (YOY). However, that decline was mostly due to TTI, an electronic components distributor. The service group\u2019s aviation segment saw revenues grow by 8.6% YOY. During &hellip;<\/p>\n","protected":false},"author":1,"featured_media":13332,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[98,102],"tags":[],"class_list":["post-13331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-companies","category-featured-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mx and Personnel Costs Cut Berkshire Hathaway Earnings - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=13331\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mx and Personnel Costs Cut Berkshire Hathaway Earnings\" \/>\n<meta property=\"og:description\" content=\"Berkshire Hathaway\u2019s first-quarterly report of 2024 showed that revenues from its service group, which includes fractional-share operator NetJets and training provider FlightSafety International, declined $168 million or 3.2 percent year-over-year (YOY). However, that decline was mostly due to TTI, an electronic components distributor. The service group\u2019s aviation segment saw revenues grow by 8.6% YOY. 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