NetJets Poised for Growth

‘The kids are alright,’ says incoming president Jim Christiansen of fractional leader NetJets Aviation. He reports 2006 was a rebound year, and is optimistic about the company’s prospects in 2007 and beyond.

"The interesting thing to look at is that the competitors almost invariably have chosen to compete on price. NetJets continues to compete on quality. We think that this discipline is extremely important. We've proven it because we're the only program, to the best of my knowledge, that has ever made money. Some of the others say they've made money recently, but if you peel back the onion a little bit, you might be able to see that there are some factors in there that make it appear they made money when perhaps that's not the actual case."

Christiansen relates that he was put off by the press coverage of NetJets at the most recent National Business Aviation Association convention in Orlando. The ‘buzz' on the show floor was that Berkshire-Hathaway CEO Warren Buffett was unhappy with the company's financial performance.

Says Christiansen, "The article that appeared in one of the publications at NBAA was disturbing because the information in that article was almost a year old. There is no basis in fact that Mr. Buffett is upset with NetJets. We had had a bad year the year before in terms of financial performance; we stepped up to that and 2006 was a very strong year. When Mr. Buffett releases the earnings statements everyone will see that we're on very solid footing."

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