Jet Aviation and Elite Jets Expand in Middle East

Business Jet Traveler » August 2008
Friday, August 1, 2008 - 5:00am

Swiss-based Jet Aviation and Dubai-based charter operator Elite Jets have formed a partnership to provide aircraft management and charter services in the Middle East. Elite Jets will provide regional charter services to Jet Aviation customers in the Middle East, while Jet Aviation will offer line and unscheduled maintenance services to Elite's fleet of business aircraft. Jet Aviation will also provide operational assistance to Elite Jets to ensure the company continues to meet quality, safety and service standards, as well as conduct recurrent training for all staff and crews.

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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