XOJet Offers a $19,000 Coast-to-Coast Flat Rate

Business Jet Traveler » April 2009
Wednesday, April 1, 2009 - 5:00am

Private aircraft charter operator XOjet has begun offering a fixed-price of $19,000 for a one-way, coast-to-coast flight on one of its Citation Xs. The deal applies to flights covering more than 4,000 airport pairs serving major East and West Coast
metropolitan areas, including Boston, Las Vegas, Los Angeles, New York, Philadelphia, San Diego, San Francisco and Washington, D.C. The price covers ground transportation at departure and arrival cities, standard catering and unlimited in-flight calling worldwide. And according to San Carlos, Calif.-based XOjet, customers for the program "will not pay any additional fees, repositioning costs, or face fuel surcharges."

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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