As the U.S. economy recovers, Berkshire Hathaway-owned NetJets has seen a surge in new customers taking part in its fractional ownership options and current owners flying more hours, NetJets CEO Jordan Hansell and Warren Buffett told CNBC on Monday.
"We've got people who have been in the program flying more and we're up year-over-year 55 percent in terms of new owners who have just come to the program for the first time," Hansell said, sitting next to his boss, Berkshire chief Buffett, who described the comeback since the financial crisis.
"When 2008 came along, in the fall, people already owned the planes. They were paying the monthly management fee," Buffett added during a three hour, special appearance on "Squawk Box" from Omaha, Neb., following this weekend's Berkshire shareholders meeting. "[But] the flying fell off dramatically. Very, very rich people cut back in a significant way. It was like someone blew a whistle, and it's been coming back from that."
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