Business Jet Traveler » October 2008

October 1, 2008
DayJet offers a sliding price scale based on passengers' flexibility about de
[Editor's note: On September 19, 2008, DayJet Services, LLC, discontinued its jet services and canceled all future flights, the result, the company said, of its "inability to arrange critical financing in the midst of the current global financial crisis." DayJet also said it was unable to honor customer reservations or issue refunds.]
October 1, 2008
Orlando is becoming a major hub and resource center for corporate aviation, and for good reason: its metropolitan area boasts an unusually high number of corporate aircraft maintenance and crew training facilities. It also has perhaps the densest concentration of world-class fixed-base operators (FBOs) in the U.S.
October 1, 2008
Macquarie Global Opportunities Partners, an unlisted fund managed by a subsidiary of the Macquarie Group of Australia, announced after Labor Day that it had completed the acquisition of several business units of Sentient Flight Group, Inc. from Berwyn, Pa.-based JetDirect Aviation Holdings, LLC (formerly Sentient Jet Holdings, LLC). Terms of the deal were not disclosed.
October 1, 2008
Paris’ Grand Palais hosted the first-ever airshow in 1908. An entirely indoor
Business Jet Traveler published its inaugural issue in October 2003-just two months before the 100th anniversary of Orville and Wilber Wright's first powered flight.
October 1, 2008
When we launched Business Jet Traveler magazine in October 2003, the stock market and the U.S. economy were struggling to recover from their spectacular fall following the dot-com meltdown and 9/11. The Dow Jones Industrial Average was at about 9,500, a level it had first passed through in early 1999 on its way up.
October 1, 2008
General Dynamics, owner of Gulfstream Aerospace, has agreed to pay about $2.25 billion to buy Zurich-based Jet Aviation from the Permira Funds private equity group. Permira bought the company in 2005 for an undisclosed sum that was said to be about $700 million. Subject to antitrust legal approval, General Dynamics' acquisition of Jet Aviation should be complete by year-end.
October 1, 2008
What you'll pay for air charter varies not only by aircraft type and model but by region. Here are the average per-hour rates for popular aircraft nationally and in the Northwest U.S., now and a year ago. Look for price data for other parts of the country in future issues.
October 1, 2008
Adam Scott
It didn't take long for 28-year-old golfer Adam Scott to accumulate all the trappings of sports superstardom. Eight years after turning pro, he commands more than $8 million a year in endorsement fees and has accumulated $23 million in tournament winnings.
October 1, 2008
Grob Aerospace filed for insolvency in Germany after its main source of capital suddenly withdrew financial support for the SPn light business jet program. CEO Niall Olver said the loan provider pulled out because of further delays in the certification program and resulting increases in the amount of money required to get the aircraft into service.
October 1, 2008
Headed for Hawaii? A specially outfitted Gulfstream G450 can take you there i
While booking a stay in a luxury Hawaiian hotel isn't hard, finding one that will fly you there on a private jet might be. The Royal Lahaina Resort on Maui and the Royal Kona Resort on the Big Island offer to do just that, via a new service called POSH Private Jet Holidays.

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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