““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 ”
Business Aviation Associations Merge in India
Presenting a unified front, the Business Aviation Association of India (BAAI) has merged with India's newly formed Business Aircraft Operators Association (BAOA). The combined organization will operate as the BAOA.
Its chairman and president, Rohit Kapur, noted that general aviation in India has grown 12 to 13 percent annually since 2001–a faster pace than commercial aviation in the country. Hence a need exists for a single, strong body to engage regularly with authorities to address the sector’s growth in India. The BAOA plans to push for reforms in business aviation infrastructure and also intends to develop standards that will foster high levels of safety, efficiency, reliability and benchmark training for crew and operations. Kapur said he expects the current Indian fleet of 552 general and business aviation airplanes and helicopters will more than triple to 1,800 aircraft by 2020.