A new Censuswide study of over 2,000 top-level business executives and UHNWs (Ultra High Net Worth) showed that the time they spend navigating commercial airports costs their company $7,500 every flight.
The math was that flying commercially on average adds over six hours to the trip compared to using a private jet solution. Based on the median salary of FTSE 100 CEOs at $5 million, it means that if four highly paid executives are traveling together, commercial flying would add $30,000 to the price of a ticket.
For a flight from London to New York that might run $5,000 one-way in first or business class, it means the effective cost is $50,000, not that much different from flying on a private jet. Jet cards and prepaid private jet charter programs also enable companies to lock-in prices and can guarantee availability, meaning even when commercial flights are full or cancelled, executives can get where they need to be.