Business Jet Traveler

December 1, 2007
Signature Flight Support has opened its newly renovated facility at Le Bourget Airport in Paris. Formerly known as "Le Terminal," the upgraded operation includes passenger lounges with panoramic airport views, separate work and rest areas for crews, a private bar, dedicated concierge service and a private car park.
December 1, 2007
In 1873, when Jules Verne wrote his famous novel about a race around the world, completing the journey in 80 days seemed impossible to many. Now, of course, you can make the trip a whole lot faster.
December 1, 2007
Don't expect charter-flight Web sites to offer the kind of one-stop booking you get with the airlines on Orbitz, Expedia and Travelocity. Nonetheless, many such sites now provide tools and data that make planning and arranging an air charter flight easy.
December 1, 2007
Cessna CEO Jack Pelton (left) inks a big deal with XOJet CEO Paul Touw.
XOJet-a provider of business jet ownership, leasing and on-demand travel solutions-is expanding its fleet of Cessna Citation Xs. The company, which expects to own 17 of the Citations by the end of this year, has ordered 30 more of the high-speed, super-midsize jets, which are valued at a total in excess of $600 million.
December 1, 2007
Proposed regulations on deductions for entertainment use of business aircraft, issued by the IRS in June, are meant to help aircraft owners comply with changes to the Internal Revenue Code that were introduced in the 2004 Jobs Act. Those changes disallow tax deductions if certain top executives, called "specified individuals," use the aircraft for "entertainment."
October 1, 2007
“We didn’t plan it, but lo and behold, I found we were making money with the
Michael Pascucci wanted to go to Florida. Never mind that he was only 13 and supposed to be in school. He bought an old Ford from a neighbor for $45; taught himself to drive; skipped out of classes in Manhasset, N.Y.; and, along with three friends, headed south.
October 1, 2007
Dubai Aerospace Enterprise (DAE) has announced that it is seeking a buyer for a division of Landmark Aviation called Airport Services Group. The group consists of 33 FBOs, an aircraft sales division, a charter management business, six maintenance shops and six Hawker Beechcraft authorized service centers.
October 1, 2007
Simply put, air charter is the front door for all things at the business aircraft level in general aviation. It precedes fractional ownership. It stimulates full aircraft ownership. The jet card programs couldn't exist without it. And for the manufacturers it represents a free "demo" program for their products.
October 1, 2007
When French airframer EADS Socata unveiled a souped-up version of its venerable TBM 700 single-engine turboprop in 2005, it billed the aircraft as the "anti-very light jet." Indeed, the TBM 850 will carry more payload, fly farther and typically complete a 500-mile trip about as quickly as a twinjet VLJ. It will also burn only about half the fuel and climb like a rocket.
October 1, 2007
When Gulfstream purchased Galaxy Aerospace in 2001 for $330 million, the deal was sort of the aviation equivalent of the reality television show Flip This House. With an eye to quick profit, an investor on the show snaps up a distressed property he thinks needs only new paint, then discovers the place is infested with termites and has a rotting roof. Whoops.

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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