Business Aviation Accident Stats Show a Mixed Picture

Business Jet Traveler » April 2008
Tuesday, April 1, 2008 - 5:00am

Business aviation accidents and incidents declined from 60 in 2006 to 56 in 2007, but fatal accidents involving U.S.-registered business jets and turboprops increased to 18 from 17, according to the latest annual report by aviation safety analyst Robert E. Breiling Associates. Fatalities also increased, from 38 to 53.  These numbers include 31 Part 135 charter accidents last year (10 fatal accidents and 27 fatalities), compared with 21 accidents the year before (seven fatal accidents and 10 fatalities).

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““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