Flight Safety Is Improving

Business Jet Traveler » October 2009
Thursday, October 1, 2009 - 5:00am

While business aircraft flight hours are down from last year, industry safety has increased disproportionately, according to business aviation safety analyst Robert E. Breiling Associates. In the first half of the year, the U.S. business airplane fleet experienced 13 accidents, down from 34 in the same period last year, a 62-percent drop. Fatal accidents declined from 10 in the first six months of last year to three in the first half of 2009.

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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