Executive Private Jet Usage Up In 2008

by Deidre Woollard (RSS feed)
Jun 12th 2009 at 9:02PM

You'd think that last year would have marked a new low in private jet usage. But a new study from an executive compensation evaluation firm, Equilar found that Fortune 100 CEOs used jets more last year than in any of the previous five years. The value of CEO airplane perks 2008 rose from $141,477 from $109,743 a year earlier making it the highest value in five years. Part of the increase was the rise in fuel which lasted through last summer but it also reflects the fact that private jet travel isn't really going anywhere. Companies are cutting back but especially those at the the top are still using the corporate jet partially because of safety concerns and partially because it's perceived as a waste of an executive's time to spend an afternoon waiting around at the airport. Many companies have cut back but they certainly haven't stopped entirely. Use of a corporate jet is also one of the things offered to potential executives as a major perk in certain companies. The study is interesting but will likely be more telling is the results next year. After a full year of scrutiny and cutbacks I wonder what those numbers will reflect.

Tags: private jet, PrivateJet