The fractional aircraft ownership company owned by Berkshire Hathaway is NetJets.
NetJets sells fractional ownership shares in private business jets, allowing customers to buy a portion of an aircraft rather than purchasing an entire plane. It also provides aircraft management, charter services and related private-aviation programs. The company’s fractional model was launched in 1986 and became one of the best-known examples of shared aircraft ownership.
The business began as Executive Jet Airways in 1964. In 1998, Berkshire Hathaway acquired Executive Jet and NetJets from founder Richard Santulli for approximately $725 million, with part of the consideration paid in Berkshire stock. NetJets subsequently became one of Berkshire’s operating businesses rather than merely a stock-market investment.
Wheels Up, AirShare and Flexjet are competing private-aviation companies, which is why they can appear plausible in a quiz. NetJets is distinctive here because its parent is Berkshire Hathaway, the conglomerate Buffett has led for decades. Fractional ownership is also different from a jet-card or charter booking: ownership customers buy an interest or contracted share of aircraft access.