Warren Buffet gambling on private jets luring the jet set away from airlines
Feb 29, 2004, 1:57 pm
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Warren Buffet gambling on private jets luring the jet set away from airlines
http://www.thisislondon.co.uk/news/b...d75015?source=
WARREN Buffett, the world's second-richest man, is taking a £173 million gamble that Britain's showbiz and sporting elite will want to avoid airlines and travel by private jets. He plans to buy 21 NetJet aircraft, based in Europe, to cope with the demand.
WARREN Buffett, the world's second-richest man, is taking a £173 million gamble that Britain's showbiz and sporting elite will want to avoid airlines and travel by private jets. He plans to buy 21 NetJet aircraft, based in Europe, to cope with the demand.
Mar 1, 2004, 1:29 am
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This makes sense. If you can afford to avoid the ridiculous airport security hassles, why not charter a private jet? The airlines are going to lose a lot of first class revenue thanks to Buffet. If only they had stood up to the TSA. Initially they all complained that the new procedures would chase away their best customers and they tried things like special lines for elite passengers, but it really didn't fix much. The airlines demanded a special program so their best customers could avoid security by showing their fingerprint or some such biometric data. But that never happened. So the airlines gave in. And now they will lose that market forever.
that I can't afford it!
Mar 1, 2004, 4:46 am
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by stimpy:
This makes sense. If you can afford to avoid the ridiculous airport security hassles, why not charter a private jet? The airlines are going to lose a lot of first class revenue thanks to Buffet. If only they had stood up to the TSA. Initially they all complained that the new procedures would chase away their best customers and they tried things like special lines for elite passengers, but it really didn't fix much. The airlines demanded a special program so their best customers could avoid security by showing their fingerprint or some such biometric data. But that never happened. So the airlines gave in. And now they will lose that market forever.</font>
This makes sense. If you can afford to avoid the ridiculous airport security hassles, why not charter a private jet? The airlines are going to lose a lot of first class revenue thanks to Buffet. If only they had stood up to the TSA. Initially they all complained that the new procedures would chase away their best customers and they tried things like special lines for elite passengers, but it really didn't fix much. The airlines demanded a special program so their best customers could avoid security by showing their fingerprint or some such biometric data. But that never happened. So the airlines gave in. And now they will lose that market forever.</font>
While there is speculation in the article about using the jets for transatlantic trips, it's far more likely for an UK-based private jet service to be shuttling people between European cities.
So it isn't about the TSA.
Mar 1, 2004, 6:44 am
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<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by Plato90s:
Refrain from a knee-jerk reaction to the TSA for a moment and read the article. The company Buffet is buying is based in Europe, and the TSA isn't running security checkpoints across the Atlantic. </font>
Refrain from a knee-jerk reaction to the TSA for a moment and read the article. The company Buffet is buying is based in Europe, and the TSA isn't running security checkpoints across the Atlantic. </font>
Mar 4, 2004, 11:51 am
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Warren Buffett rarely takes chances. He also has a fantastic record (as well as a happy following). If he would run for the White House, he would be a shoe-in.
With greedy follow-the-leader management, greedy unions, a complacent FAA and now(drum roll PLEASE!!!!!)........the TSA militia, the USA airline business keeps tripping over their beaten-down barefoot passengers shoes-in-a-tray.
MisterNice
With greedy follow-the-leader management, greedy unions, a complacent FAA and now(drum roll PLEASE!!!!!)........the TSA militia, the USA airline business keeps tripping over their beaten-down barefoot passengers shoes-in-a-tray.
MisterNice
Mar 5, 2004, 4:24 am
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There was another article this week in the IHT about how popular private jet-sharing programs are becoming in the U.S. It said corporate budgets are opening up a bit and the three-letter executives are flying private again. The reason? To avoid airport hassle. More money lost for U.S. airlines and it's their own fault for not standing up to the TSA.