Business Jet Traveler » April 2008

April 1, 2008
Farnborough, UK-based business aircraft operations company Gama Holdings purchased PrivatAir Inc., the U.S. division of PrivatAir Group, in March for an undisclosed sum. Gama also bought 25 percent of Flight Services Group, which provides charter services to the former PrivatAir management clients in the U.S.
April 1, 2008
Eclipse has revamped its production line and doubled output, but it still tur
The very light jet industry wasn't exactly flying high last year. A major supplier told me last summer that he expected half of all VLJ makers to fold soon. By the end of 2007, he looked clairvoyant; first the Aviation Technology Group suspended work on the two-seat Javelin and then, early in 2008, after sputtering for almost two years, Adam Aircraft shut its doors.
April 1, 2008
The Cessna 525 CitationJet that crashed in West Gardiner, Maine, on February 1 was owned and flown by Silicon Valley entrepreneur Jeanette Symons, an instrument-rated private pilot. The crash killed Symons and her 10-year-old son.

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Quote/Unquote

““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