Business Jet Traveler » October 2009

October 1, 2009
Bombardier says it is on pace to deliver its Learjet 85 model beginning in 2013. The manufacturer reports orders for nearly 60 of the $17.2 million (2008 dollars) aircraft, which are expected to become the first certified all-composite Part 25 business jets.
October 1, 2009
Richard Santulli resigned as chairman and CEO of NetJets, which has been owned by Warren Buffett's Berkshire Hathaway since 1998. [See related stories on pages 4 and 50.--Ed.] Santulli founded the firm, which introduced the fractional-ownership concept, in 1986. He will remain with the company as a consultant for at least a year.
October 1, 2009
The European Aviation Safety Agency will extend discussion of the most contentious points arising from its proposed new rules for aircraft operations and has indicated that it could permit greater flexibility for business aviation on issues such as flight and duty-time limitations.
October 1, 2009
While business aircraft flight hours are down from last year, industry safety has increased disproportionately, according to business aviation safety analyst Robert E. Breiling Associates. In the first half of the year, the U.S. business airplane fleet experienced 13 accidents, down from 34 in the same period last year, a 62-percent drop.
October 1, 2009
Open-sided dining areas overlook a lagoon where elephants lumber through the
While Africa brims with unspoiled landscapes written in big, bold strokes, Botswana's Okavango Delta proves especially dazzling. The 6,000-square-mile Delta is formed by the mighty Okavango, "the river that never finds the sea," which roars down from neighboring Angola and spills out into the sands of the perpetually barren Kalahari Desert.
October 1, 2009
Dassault Aviation logged $1.28 billion in Falcon sales in the first half of the year, down from $1.56 billion in the same period last year after order cancellations far exceeded sales. Thus, Dassault's consolidated orders for the first six months equaled negative $1.5 billion, compared with $3.4 billion in the year-ago period.
October 1, 2009
Your provider would be much happier to keep you on the ledger with a share in
Scaling back doesn't have to mean giving up the benefits of private aviation and settling on airline travel.
October 1, 2009
“If you drive, you get there at like six in the morning, but it’s only a 55-m
You might never have heard Mick Jones' name, but if you've spent any time near a radio since the late 1970s, you've probably heard plenty of his music. Because the founder and guitarist of the rock group Foreigner rarely sings lead vocals and also because the band touts its brand name rather than its individual members, the UK native has never become particularly well known in his own right.
October 1, 2009
I recently was invited to the Los Angeles Dodgers' Sports Camp, or "fantasy camp" as some call it. Unlike most of the events I attend, this one was unique in that I was the only aircraft broker present. At lunchtime-after we'd spent the morning trying to look our best hacking at the fastballs and changeups that zipped our way-we were asked to recount our business experiences.
October 1, 2009
The reasons behind Richard Santulli's sudden departure from NetJets have been the subject of speculation for weeks. Sources tell us he was forced out for failing to move aggressively enough to stem financial losses at the fractional-ownership giant. Others say he fell out of favor after rejecting calls to let go of senior managers who'd worked alongside him for years.

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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