NJASAP to host informational picket on Friday, July 14 at The 2023 Allen & Company Sun Valley Conference

Rhea-AI Summary

Berkshire Hathaway (NYSE: BRK) Subsidiary NetJets Aviation, Inc. Faces Pilot Labor Crisis: NJASAP to Host Informational Picket at 2023 Allen & Company Sun Valley Conference

Positive

• NetJets Aviation, Inc. is facing a pilot labor crisis, with the NetJets Association of Shared Aircraft Pilots (NJASAP) organizing informational picketing at the 2023 Allen & Company Sun Valley Conference. The picketing aims to highlight the lack of meaningful steps taken by NetJets executives to attract and retain talented pilot personnel, potentially risking the brand's status as a global leader in private air transportation.

Negative

• None.

HAILEY, Idaho, July 14, 2023 /PRNewswire/ --

WHO	The NetJets Association of Shared Aircraft Pilots (NJASAP) represents the professional interests of the 3,000-plus pilots who fly in the service of NetJets Aviation, Inc., a Berkshire Hathaway (NYSE: BRK) subsidiary.
WHAT	Informational picketing by NetJets pilots and their families coinciding with the Allen & Company Sun Valley Conference
WHERE	Near Atlantic Aviation, 2230 Aviation Dr., Hailey, ID 83333
WHEN	Friday, July 14, 2023, from 1000LT to 1400LT
WHY	•  Despite the sustained pilot labor crisis, NetJets executives have chosen not to take meaningful steps to attract and to retain talented pilot personnel, putting the brand's status as the global leader in private air transportation at risk.   •  Indeed, as the pilot shortage tightens its grip on the marketplace, NetJets's competitive position continues to diminish based on the Executive Management Team's refusal to acknowledge and to take steps to compete for pilot talent by securing an industry-leading collective bargaining agreement for its pilots.   •  NetJets pilots will earn, on average, 60 percent of what their peers at some low-cost carriers will earn across a 30-year career. At a time when carriers are aggressively competing for and recruiting pilot talent, what will compel the best aviators to choose NetJets, which refuses to make appropriate competitive adjustments?   •  Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards. Unsurprisingly, new hire pilot experience at NetJets has plummeted 77 percent since 2018 – a shift NJASAP attributes to the brand's decision to downplay the sustained pilot labor crisis.   •  NJASAP views this head-in-the-sand stance as unfathomable – especially when we stand ready to partner with management to recapture NetJets's former cache, benefiting all Berkshire Hathaway stakeholders.   •  NJASAP members are picketing to inform the public of the ongoing labor dispute and their concerns with NetJets's training deficiencies as well as to show the NetJets Executive Management Team that the pilots support their Union's efforts.

 

Rather than compete for talent, NetJets has opted to avert a hiring crisis by lowering minimum flight time standards.

 

 

 

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SOURCE NJASAP

What is the purpose of the NJASAP picketing at the 2023 Allen & Company Sun Valley Conference?

The purpose is to highlight the lack of meaningful steps taken by NetJets executives to attract and retain talented pilot personnel, potentially risking the brand's status as a global leader in private air transportation.

Why are NetJets pilots and their families picketing?

They are picketing to inform the public of the ongoing labor dispute and their concerns with NetJets's training deficiencies, as well as to show support for their Union's efforts.

What is the current average earnings of NetJets pilots compared to their peers at low-cost carriers?

NetJets pilots earn, on average, 60 percent of what their peers at some low-cost carriers will earn across a 30-year career.

How has the new hire pilot experience at NetJets changed since 2018?

New hire pilot experience at NetJets has plummeted 77 percent since 2018, attributed to the brand's decision to downplay the sustained pilot labor crisis.

What is NJASAP's view on NetJets's approach to the pilot labor crisis?

NJASAP views NetJets's approach as unfathomable and is ready to partner with management to recapture NetJets's former cache, benefiting all Berkshire Hathaway stakeholders.