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Berkshire Hathaway Company FlightSafety To Enter India

Feb 7, 2013
by Kelly Scott in berkshire hathaway // warren buffett with No Comments

A company by the name of FlightSafety International, owned by Berkshire Hathaway and Warren Buffett, is the leading aviation training company in the world. They recently have established business operations in India. They did this through a licensing agreement and consultancy with Aviators India, a Bangalore-based business.

The company, which is based out of New York and 60 years old, provides around 1 million hours of flight training in a business year to technicians, pilots, cabin attendants and other professionals in the field of aviation. It also supplies visual systems, flight simulators and displays to military organizations, governments and commercial operations all around the globe. FlightSafety’s India play will begin over the next four months. They will start out in the area of cabin attendant training for corporate flight operators as well as commercial operators.

“Put together (both commercial and corporate operators) there would be over 10,000 flight attendants in India. And given the number of aircraft orders airlines have placed, this vertical could well see a growth of 100% over the next 5 to 7 years,” we learned from Arun Sharma, MD, Aviators India.

The business Aviators India has been around for nearly 2 decades, providing sales of corporate jets and aircraft charter services to individuals in India with a high net worth. They conduct cabin crew training in-house in India typically, and there are very few third-party training companies providing grooming to cabin crews. There are specifically two different types of markets for training in India, and they are the recurrence market and the initial market. FlightSafety intends to address the needs of both in this country.

“The initial market is when somebody has no experience and goes through a full training module, while the recurrence market addresses people who need refresher courses every six months or a year depending on an operator’s policy,” Sharma said. He also adds that the apex aviation regulator of the country, known as the Directorate General of Civil Aviation, acknowledges this training provided by FlightSafety.

“FlightSafety is also looking at making India a hub, providing end to end training services, including training on simulators, to markets such as West Asia and Southeast Asia,” we learned from Daniel M Yuen, MD, APAC region, FlightSafety.

“Simulators require a specific number of aircraft type and once the threshold is met we will work together with the manufacturers and make a joint decision on where to have the simulators,” we also learned from Yuen.

Warren Buffett’s Billionaire CEO Dies At Age 95

Oct 22, 2012
by Kelly Scott in berkshire hathaway // warren buffett with No Comments

Albert Ueltschi is a pilot that also founded the company FlightSafety in 1951. It is an aviation training company in which he expanded it into an international powerhouse, then sold it to multibillionaire Warren Buffett for a total of $1.5 billion dollars. He passed away at the age of 95 years old.

Mister Ueltschi died on October 18, 2012 in Vero Beach, Florida at his home. We learn this from a statement given by his company, and they did not provide us with a cause of death.

He was a pilot of Pan American’s first corporate plane – and Juan Trippe was the company founder and a regular passenger. Not long after, he came up with the idea that there was a need for a training and testing center in the booming aviation industry during the 1950s.

The name of that company today is FlightSafety International Inc. They claim to be the leading aviation company involved in training all around the world. They are the best at teaching pilots, flight attendants, dispatchers and aviation mechanics, plus others, and they do it each and every year.

The company is based out of LaGuardia Airport in New York City, and they have more than 40 locations with flight simulators and training centers all across the United States of America, the United Kingdom, France and Canada. We learned this according to their website.

Berkshire Hathaway, owned by the billionaire investor Warren Buffett, purchased the company in 1996. This brought Ueltschi to the ranks of the world’s wealthiest, and it couldn’t have happened to a nicer Kentucky farm boy. Forbes magazine recently estimated that his net worth was $2.1 billion dollars.

Praise from Warren Buffett

Ueltschi continued as FlightSafety president even after Warren Buffett purchased the company, and he lasted until the year 2003, in which time he just served as chairman.

“The first question I always ask myself about somebody in his position is, do they love the money or do they love the business?” Buffett was quoted in Aviation International News in 1999. “But with Al, the money is totally secondary. He loves the business, and that’s what I need.”

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