Airbus Confirms First Buyer for Executive/VIP A380

Business Jet Traveler » August 2007
Wednesday, August 1, 2007 - 5:00am

Airbus CEO John Leahy has confirmed that the company will be converting a giant A380 airliner to an executive/VIP role for an unnamed buyer. While there are unconfirmed reports about the buyer's identity, Leahy would say only that he is neither American nor European and the airplane would be for his personal use. New York's Edese Doret Industrial Design said it has presented an A380 interior-design proposal to a Middle Eastern customer. The A380, the world's largest airliner with approximately 6,800 square feet of cabin space, costs $300 million with an unfinished interior. Building and installing a personalized cabin would likely add $150 million or more to that price.ꆱ

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack