Flexjet Reports Sales Gains

Bombardier Challenger 605
Flexjet share sales are on the rise.
Thursday, January 5, 2012 (All day)

Flexjet has announced that its fractional-jet-share sales rose 92 percent in the 12-month period ended last September 30. During the same time, according to the Texas-based company, industry-wide share sales increased 16 percent and Flexjet’s market share jumped from 14 to 21 percent. The Bombardier-owned company also noted that it has already sold 33 shares in the Learjet 85 program it announced last August. 

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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