Private jet travel makes companies more efficient argues Joe Nocera
With private aviation travel in the crosshairs amid continuing reports about government officials using private jets and the revelation that General Electric sent a backup plane to trail its former CEO Jeff Immelt in case of a mechanical, Bloomberg View’s Joe Nocera wrote, “In Defense of Corporate Aircraft. No, Really.”
NEXA Advisors found over five years companies that use business aviation beat non-users in sales growth, profit, employee satisfaction and accolades
Dear John Flannery and General Electric. Hold onto those private jets! A new study released today covering S&P 500 companies shows those that closed their flight departments experienced less financial success, compared to those that continued to utilize business aviation, even during economic downturns. Over a five-year period, users of business aircraft grew their top line by a factor of 2.4 more than non-users on a weighted and indexed basis. Further, private jet users out-performed non-users by 23 percent in revenue growth and users out-performed non-users by 18 percent in market capitalization.
GE’s Move To Cut Back Its Own Private Jets May Spur Innovation In The Charter Market
The King is dead. Long live the King. Jeffrey Immelt’s 16-year reign at General Electric is over and new CEO John Flannery will be shepherding a new $2 billion cost-cutting plan. One of the casualties will be GE’s corporate flight department.