Jet accidents stable turboprop mishaps up

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

Business jet accidents in the first six months of this year remained the same as during the first half of last year, while the turboprop segment saw a significant increase, according to statistics released by Robert E. Breiling Associates. Part 135 jet operations improved, with 10 accidents in the first half of last year shrinking to four thus far this year. Fatal accidents dropped from three last year to just one over the six-month period, while fatalities saw a corresponding decline from 10 to three. Offsetting this, corporate/executive jets experienced four accidents so far this year, including one fatal, against none in the first six months of last year. The turboprop segment suffered a major spike in mishaps, experiencing 24 accidents in the first six months of this year, compared with 14 in the same time frame last year. Fatal turboprop accidents doubled to eight so far this year, with deaths increasing from 10 to 14. Part 135 turboprop operators' accident rates, fatal accident rates and fatalities more than doubled in the same period year-over-year.

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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