After a miserable 2009, private aviation is showing signs of a turnaround. Private-jet operator NetJets Inc., based in Columbus, swung to a profit for the first quarter, and other companies that charter or sell shares in private aircraft are also reporting positive first-quarter results. While no one's breaking out the champagne yet, the market appears to have turned a corner, a good sign for the country's overall economic health. "We were profitable for each month of the first quarter," said David Sokol, CEO of NetJets.

The company, owned by Warren Buffett's Berkshire Hathaway, made a profit of just more than $50 million compared with a year-ago first-quarter loss of $126 million, Sokol said. For all of 2009, NetJets lost $711million, much of that because of write-downs on the value of its aircraft. Flight activity for the first quarter was up nearly 9percent year-over-year, still below first-quarter 2008 levels but "still very positive," Sokol said. NetJets also got a "significant" gain in fractional-share sales to new owners during the first quarter after losing owners last year, he said.

Employment at NetJets, which took a hit last year, is expected to be stable locally. Sokol laid off about 800 workers after taking the reins of the company in August. He said he reassured employees this week that there are no additional layoffs planned, after rumors of more pilot furloughs circulated. "I hope by the end of the year we can start growing the business," Sokol added. NetJets' numbers track closely with data issued this month by Cincinnati-based Aviation Research Group/U.S. The company found business aircraft activity was up 8.5 percent year-over-year in March.

California-based XOJet, a distant second to NetJets in terms of fleet size, said this week that it had record first-quarter results, although the privately owned company declined to give financial details. In a release, the company said flight hours in January were up 31percent year-over-year and called March its "most successful month to date." In Columbus, small jet charter firm JetSelect also reported a spike in business after many tough months in the recession. "We've seen a 75 percent increase in first quarter '10 versus '09," said JetSelect CEO Robert Austin. He said business travel is driving the growth, in particular because of the return of initial public stock-offering activity. He said JetSelect does a good deal of business with companies doing "road shows" to potential investors ahead of going public.

Meanwhile, interest in private jets surged in Europe in the past week as travelers scrambled to get to their destinations as volcanic ash clouds brought air travel to a standstill. NetJets Europe, which is managed independently of the U.S. operation, reported a 61 percent increase in customer inquiries in the past week. It said it was working overtime to help affected owners with alternate arrangements. While some commercial airlines are seeking government compensation for revenue lost during the disruption, Sokol said, NetJets doesn't expect "any material economic harm" to result from the situation.