XOJet debuts fixed-fare charter

Business Jet Traveler » August 2009
Tuesday, September 1, 2009 - 5:00am

XOJet has announced what it claims is a first-of-its-kind national network of simply priced, fixed-rate charter flights on more than 15,000 dedicated routes. The rates, which start at $12,000, cover travel on an XOJet Citation X, which seats up to eight passengers; ground transportation in the departure and arrival cities; standard catering; and unlimited in-flight worldwide phone calls. Clients do not pay repositioning costs, fuel surcharges or any other additional fees, except federal excise tax.

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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