Business Jet Traveler » February 2009

February 1, 2009
Richard Thompson is an enthusiastic self-proclaimed entrepreneur. "I've never had a job my whole life that I didn't create," he told me as we talked in his finely refurbished Hawker 700A on the Jet Aviation ramp at New Jersey's Teterboro Airport.
February 1, 2009
The ASA Group, a specialist in flight-handling services in the Asia/Pacific region, has announced a partnership to develop aircraft charter services with London firm Avolus. The initial effort will focus on flights between the United Kingdom and Asia. ASA has been established in Southeast Asia for more than two decades.
February 1, 2009
“This could be a $2 billion business. I don’t know if we want that. At some p
In 1999, when Kenny Dichter took his first private jet ride on a friend's Hawker 800XP from New York to Boston, the airplane wasn't all that took wing. Dichter spotted an untapped market. Less than a decade later, he helms a jet-card subsidiary to industry giant NetJets that had sales of approximately $800 million to $900 million last year.
February 1, 2009
Brazilian manufacturer Embraer delivered its first Phenom 100 very light jet on December 31 at the company's Sao Jose dos Campos headquarters. The five-passenger twinjet was then flown to the U.S. by new owners James and Elizabeth Frost of Houston. The couple are pilots who successfully completed the Phenom 100 training syllabus and who plan to use the Phenom for business and family travel.
February 1, 2009
More than a dozen companies are involved in converting regional jets to execu
Even when economic times were good, regional airliners reconfigured for executive/VIP use were a bargain, offering a large-cabin equivalent of a Bombardier Global XRS or a Gulfstream G550 at a fifth of the cost.
February 1, 2009
Executive AirShare-the only fractional aircraft ownership provider in North America to offer Embraer's Phenom 100 and 300 very light jets-has announced its fractional pricing structure for the Phenom 100. Embraer began deliveries on December 31 and the first of the five-passenger twinjets is expected to go into service with Executive AirShare in March of this year.
February 1, 2009
Charter/management company Avjet has moved into a new "green" hangar at Bob Hope Airport in Burbank, Calif. The facility, Hangar 25, is the first hangar to be certified at the platinum level by the U.S. Green Building Council, under the Leadership in Energy and Environmental Design green-building rating system.
February 1, 2009
U.S. Helicopter hoped to resume flights from New York's Wall Street heliport before this issue went to press, according to a spokesman for the company.
February 1, 2009
The Department of Homeland Security's new rule that requires general aviation pilots to file passenger names and other information with government officials before crossing a U.S. border took effect December 18, though compliance isn't mandatory until May 18.
February 1, 2009
Rep. Ray LaHood (R-Ill.), who presided over the impeachment of President Clinton, will be Secretary of Transportation in President Barack Obama's administration and the second Republican selected for his cabinet.

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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