Berkshire Hathaway buys executive jet for $725 million Free

Berkshire Hathaway buys executive jet for $725 million

Keywords Aircraft,Merger

Berkshire Hathaway Inc.(NYSE:BRK) and Executive Jet Inc. recently announced that they have executed a definitive merger agreement pursuant to which Executive Jet will be acquired by Berkshire for US$725 million in cash and stock.

Executive Jet is a provider of fractional ownership programmes, a method by which individuals or businesses buy shares in a corporate jet, allowing them guaranteed availability of their chosen type of aircraft for a specified amount of flying time per annum. The programme in Europe is operated by NetJets Europe, a joint offering of Executive Jet, Zintex Aviation and Air Luxor (from Switzerland and Portugal).