Jet Asia of Macau has long-range charter plans

Business Jet Traveler » June 2008
Sunday, June 1, 2008 - 5:00am

Macau, a "special administrative region" of the People's Republic of China, is rapidly developing as a business aviation hub. Since the first of the year, charter operator Jet Asia has added two Hawker Beechcraft Hawker 900XPs. Planned for delivery are four Hawker 750s and a Project Phoenix executive/VIP-configured CRJ 200 later this year, a Bombardier Challenger 605 in 2009 and a Global 5000 in 2010. Jet Asia expects to offer a reconfigured executive/VIP Boeing 737 or MD-80 aircraft suitable for 24-passenger charter from Asia to the Middle East and Europe.

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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