Mideast Charter Operator Adds Airbus

Monday, August 30, 2010 - 1:00am

Al Jaber Aviation has become the first Middle East charter operator to offer an Airbus aircraft for executive flights, following delivery of its first A318 Elite. The jet can carry 19 passengers and features a private office that converts to a bedroom as well as large bathrooms and abundant luggage space. The company has ordered three more A318 Elites and two Airbus Corporate Jetliners, which will make it the region's largest Airbus corporate jet operator.

"We aim to provide VVIP customers with the ultimate in comfort, space and service, and because the A318 Elite and Airbus ACJ have the widest and tallest cabins of any business jet, can now deliver it," said Al Jaber Group chief executive officer Mohammed Al Jaber. 

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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