Business Jet Traveler » August 2008

August 1, 2008
ExcelAire's new private jet terminal at Long Island [N.Y.] MacArthur Airport has received TSA approval as a gateway for travel to Ronald Reagan Washington National Airport. Facilities at 20 other airports also have such approval. The authorization for ExcelAire came after it passed TSA security checks and implemented special security procedures.
August 1, 2008
Salt Lake City, well known for its founding by Mormon pioneers in 1847 and as the home of the Church of Jesus Christ of Latter Day Saints, gained the nickname "Crossroads of the West" after the "Golden Spike" symbolically completed the Transcontinental Railroad in 1869, just north of the Great Salt Lake.
August 1, 2008
“If you get one airplane and you get other people using it to defray the cost
The NASDAQ crashed in March 2000, Shawn Jenkins recalled. "That June, my partner Mason Holland and I started Benefitfocus. It was an awkward time to start a software company," he said, with just a touch of irony.
August 1, 2008
Swiss-based Jet Aviation and Dubai-based charter operator Elite Jets have formed a partnership to provide aircraft management and charter services in the Middle East. Elite Jets will provide regional charter services to Jet Aviation customers in the Middle East, while Jet Aviation will offer line and unscheduled maintenance services to Elite's fleet of business aircraft.
August 1, 2008
For an elite band of thrill-seekers, heli-skiing is the ultimate adrenaline rush.
August 1, 2008
Hawker Beechcraft has a program well under way to produce the Premier II update to the Premier I that will climb faster, fly farther and faster, and carry a bigger payload, according to the company. The Premier II will feature new 3,050-pound-thrust Williams International engines and performance-enhancing winglets.
August 1, 2008
Castle & Cooke Aviation has opened an FBO at Honolulu International Airport. The former Circle Rainbow facility received a $5 million upgrade, with renovation of the lobby, 18,000-square-foot hangar and 60,000 square feet of office space. Castle & Cooke plans to offer jet-A and avgas service later this year on an expanded general aviation ramp on the island of Lanai.
August 1, 2008
Sometimes, pilots must make the transfer from wings to wheels briskly.
What Americans call "landing gear," the British call "undercarriage," which really is much more logical. That's because an airplane uses its wheels not just to land but also to take off, taxi and sit around in the hangar. Whatever you call it, the part of the aircraft that allows it to move around on the ground has several distinguishing characteristics.
August 1, 2008
At the Aviation Insurance Association convention earlier this year, industry experts reported a mini-boom that is benefiting the insured, large and small. The reason: a credit crunch throughout much of the economy, triggered by the U.S. sub-prime loan debacle, has been driving capital, especially private-equity funds, toward less risky investments, including aviation insurance.
August 1, 2008
Geiger Excavating has sued Eclipse Aviation, seeking refund of a $150,000 deposit for an Eclipse 500 VLJ, plus pre-judgment interest and the cost of taking the case to court. Jay Geiger, president of Geiger Excavating of Fort Wayne, Ind., signed a deposit agreement for the aircraft in October 2000.

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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