Private Flights Getting Cheaper Thanks to Stimulus Tax Relief
- The legislation suspended a federal excise tax on flights
- Customers of Buffett’s NetJets, PrivateFly benefit from relief
Photographer: Daniel Acker/Bloomberg
The U.S. government’s $2.2 trillion stimulus package comes with a perk for high fliers: Flights are getting cheaper for some private-jet customers.
The legislation, known as the CARES Act, suspended a 7.5% federal excise tax on commercial air transportation through year-end, a move that would help big U.S. carriers. But it will also benefit some customers of private-jet operators such as Berkshire Hathaway Inc.’s NetJets and broker PrivateFly.