Demand Increases for Canadair Regional Jets

Business Jet Traveler » August 2008
Friday, August 1, 2008 - 5:00am

With a long waiting list for new airplanes of similar cabin size, demand is growing for executive/VIP conversions of the Canadair Regional Jet (CRJ). But the CRJ's popularity may have as much to do with price as with availability of competing models. Granted, the Canadair model has a range of only about 3,000 nautical miles (even with auxiliary fuel tanks), but you can buy a relatively low-time CRJ200 for about $10 million. And even after adding another $7 million for maintenance, an engine upgrade and an executive cabin, the price tag is considerably less than that of a new Bombardier Challenger 850 (about $29 million) or Embraer Legacy 600 (about $26 million).

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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