When a 747 Just Isn't Big Enough

Business Jet Traveler » February 2007
Thursday, February 1, 2007 - 4:00am

The Airbus A380 double-deck airliner has received joint type certification approvals from both U.S. and French aviation authorities. At 1.19 million pounds and with 6,819 square feet of floor space, it is the largest airliner ever built. Airbus has admitted to talks with customers about replacing their Boeing 747 luxury aircraft with VVIP A380s, but there has been no confirmation of any actual orders. The big jet lists for $285 million and independent completion centers estimate that outfitting the cabin will add $150 million. As an airliner, it can carry several hundred passengers more than 9,200 nautical miles at more than 500 knots.

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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