Business Jet Traveler » August 2009

September 1, 2009
Miami-based Air Platinum Club, which began operating in July, offers its members flight time on club-owned Gulfstream GIV-SPs. The club provides flights within the continental U.S. and between Paris and major U.S. cities. Members also have access to the club's 50-foot yacht, exotic sports cars and beachfront condo, all of which are in the Miami area.
September 1, 2009
France-based Dassault is working to have ready for entry into service in 2020 technologies that would reduce fuel consumption by 40 percent compared with fuel burn from current-production Falcons. Among other things, Dassault is considering an all-electric system architecture-eliminating pneumatic and hydraulic systems-that uses smaller power generators.
September 1, 2009
Avantair, the only publicly traded, standalone fractional operator, has announced financial results for the first quarter of 2009. Revenues totaled $34.7 million, a 16-percent gain over the same quarter last year. During the quarter, the company said, it recorded a "substantial" increase in hours flown and added a 52nd aircraft to its fleet.

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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