Buffett Pounces With $9.6 Billion Purchase of Jets

Warren Buffett’s Berkshire Hathaway Inc. jumped into the slumping private-jet market again with a record order valued at $9.6 billion, betting on a rebound later this decade with a third plane purchase in less than two years.

Buying as many as 425 jets from Bombardier Inc. and Textron Inc.’s Cessna will bolster Berkshire’s NetJets in “a long-term bet on the global economy,” Chief Executive Officer Jordan Hansell told Betty Liu in an interview today on Bloomberg Television’s “In The Loop.”