XOJet Offers Incentives for U.S. Transcontinental Travelers

Tuesday, February 8, 2011 - 11:00pm

XOJet has announced special incentives for its private jet passengers who fly coast-to-coast more than three times a year. The program, called Coast2Coast, offers guaranteed access to the company's Wi-Fi-enabled Challenger 300 and Citation X super-midsized jets with no peak-day restrictions, ferry charges, lock-in fees or exit penalties. Passengers can fly coast-to-coast on any of more than 85 routes between major metropolitan areas on the east and west coasts of the U.S.

XOJet has also announced the opening of a New York City office, at 2 Grand Central Station.

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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