Delays Won't Affect Deliveries of VIP 787s

Business Jet Traveler » December 2007
Saturday, December 1, 2007 - 4:00am

Despite "challenges" in assembly of the first Boeing 787 prototype that have forced delay of the first flight and certification by at least six months, Boeing Business Jets does not expect to have to reschedule delivery dates for executive models of the jetliner. Boeing claims to have firm orders for nine executive 787s, two of which will go to an unidentified leasing company. According to Boeing Business Jets president Steven Hill, the first airplane is scheduled for delivery to an independent completion center for outfitting in May 2010. The next available slot is in early 2016. The 787 will offer a maximum cabin altitude of 6,000 feet, an improved air-purification system, a cruise speed of Mach 0.85 and a range of about 8,000 nautical miles.

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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