There’s nothing like having good news about your company in Warren Buffet’s 2006 chairman’s letter to Berkshire-Hathaway shareholders:

A much improved situation is emerging at NetJets, which sells and manages fractionally-owned aircraft. This company has never had a problem growing. Revenues from flight operations have increased 596% since our purchase in 1998. But profits had been erratic.

Under Mark Booth’s brilliant leadership, NetJets is now operating profitably in Europe, and we expect the positive trend to continue. Our U.S. operation also had a good year in 2006, which led to worldwide pre-tax earnings of $143 million at NetJets.

There’s a reason NetJets is the runaway leader: It offers the ultimate in safety and service. At Berkshire, and at a number of our subsidiaries, NetJets aircraft are an indispensable business tool. I also have a contract for personal use with NetJets and so do members of my family and most Berkshire directors. (None of us, I should add, gets a discount.) Once you’ve flown NetJets, returning to commercial flights is like going back to holding hands.

Not only is Buffet’s letter good news for NetJets, but encouraging words from Forbes Billionaire #2 are good for the entire private jet industry as well.

Wondering if you should take Buffet’s advice and look into fractional jet ownership? Find out by downloading our Decision Guide to Private Jet Travel.