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<<Berkshire-Hathaway bought a company that trains corporate pilots (the name excapes me). Buffet has changed his attitude towards aircraft. They even changed the name of the company plane from "The Indefensible" to "The Indespensible".>>

Flightsafety is the name of the company that trains pilots. Berkshire also owns Executive Jet, which essentially sells time-shares on personal jets. Both companies fill a unique market niche and create a lot of value for their customers. Executive Jet offers such fantastic value proposition that Buffett dispensed of "The Indispensible," and bought partial ownership in a jet from Executive Jet. Buffett sees the value of aircraft, but not the value of an airlines business.

-Matt
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