Business Jet Traveler » February 2009

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
Schubach Aviation, which operates 21 aircraft, has introduced a jet card membership program.
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.
February 1, 2009
Virgin Charter, an online charter aircraft booking resource, is now accessible through GetThere.com, a Web-based procurement center logging some 10 million travel bookings annually. By accessing Virgin Charter Marketplace through GetThere, users can receive multiple quotes from hundreds of operators throughout the U.S.
February 1, 2009
Seven FBOs have left the Million Air franchise system and switched to a new brand name, Odyssey Aviation, having joined in a marketing partnership with the Odyssey Aviation Bahamas FBO at Lynden Pindling International Airport in Nassau. Odyssey Bahamas also used to be a Million Air franchisee.
February 1, 2009
With the economy worsening and the media focusing on the cost of private jet operation, many executives are looking for ways to reduce their travel expenses. If you're not quite ready to trade private jet efficiency for the hassles of commercial aviation, sharing charter flights could be the answer.
February 1, 2009
Editor's note: Cessna suspended development of the aircraft reviewed below in April 2009 and then formally cancelled the program in documents filed with the Securities and Exchange Commission on July 10, 2009.
February 1, 2009
With the acquisition of fixed-base operator Air American Fuel and Services at Grant County International Airport in Moses Lake, Wash., Million Air has expanded its FBO chain to 26 facilities in the U.S., Canada and the Caribbean. Grant County International is a designated port of entry and has a U.S.

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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