Buffet’s Departure and what of the Future of NetJets
Warren Buffett’s recent departure from Berkshire Hathaway marks the end of an era for one of the world’s best-known companies. But for the business aviation industry, the more interesting question may be what happens to the aviation businesses Buffett helped build after he is no longer at the helm. Buffett has stepped down as chairman of Berkshire Hathaway and become chairman emeritus, with his son Howard Buffett taking over as chairman and Greg Abel continuing as chief executive. Berkshire’s aviation interests include NetJets, Executive Jet Management and FlightSafety International. Of those businesses, NetJets perhaps best illustrates Buffett’s influence on the sector. Berkshire acquired NetJets in 1998 for $711 million. Buffett did not simply treat the company as another investment. He personally promoted NetJets and became……