Flying

Airbus ACJ350

Five and eight may be small numbers, but Airbus is betting they’ll represent a big difference for its new A350-900 XWB (extra wide body). The model is five inches wider and, claims the manufacturer, 8 percent more fuel-efficient than Boeing’s 787, with which it will compete in the long-haul, twinjet market. In 2018, Airbus expects to introduce a stretched version of the aircraft, the A350-1000, to go head-to-head with Boeing’s even larger 777 twinjet.

Money

How to Purchase Your First Preowned Business Jet

Prices have been coming down on preowned jets, so it may be worth investing in your own aircraft if you’re flying often enough with a jet card or fractional-share program. Having an expert on your side for such a purchase is important, so BJT spoke with brokers Janine Iannarelli, Jahid Fazal-Karim, and Steve Varsano to get professional advice on what to look for and how to make the transaction go smoothly.

People

Billionaire Chris Burch

He sold sweaters door-to-door to fellow students at Ithaca College. That turned out to be his first step on the road to becoming a billionaire.

Time Off

The Galapagos Islands

The Galapagos Islands, some 600 miles off the coast of Ecuador, rank among the world’s most distinctive and abundant wildlife destinations. Roughly 9,000 species live here and in surrounding waters. The mostly uninhabited isles are like a natural-history museum, except the animals aren’t stuffed—they’re wild. Exploring the Galapagos, I often felt as if I was walking in an exotic zoo without cages.

Bizav Basics

Insurance tips for fractional and charter customers

If you’re a charter customer or fractional owner, your net worth may well exceed that of your flight provider. That would make you the deep pocket with the most to lose in an accident, yet you have no role in selecting the provider’s insurer or drafting its coverage terms. So how can you protect yourself? By performing the most dreaded task in all of aviation—reading the insurance policy—and by keeping these tips in mind:

 

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