Bizav-Dedicated Airspace Planned for 2012 Olympics

Thursday, September 22, 2011 - 7:16pm

The UK's National Air Traffic Services has proposed a new airspace structure specifically to accommodate business aviation during the 2012
Olympic Games in London. Under the plan, airspace around the UK capital would be segregated between a restricted area and a prohibited area over central London. Operators must soon start applying for slots that will be required for arrivals and departures at airports across southern and eastern England during the Olympics (July 21 to August 15 next year). The UK government has now granted approval for some general aviation airports--including Cambridge, Northolt, Lydd and Southend--to be open around the clock. London-area airport and FBO managers have said they will require non-refundable deposits for slot bookings. The deposits are intended to prevent operators from making block bookings to guarantee arrival and departure times.

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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