The Economics of Private Jets


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Published: 7 months ago
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Music by http://epidemicsound.com
Select footage courtesy the AP Archive

References:
[1] https://www.census.gov/quickfacts/fact/table/US/SEX255218; http://newflightcharters.com/private_jet_charter_flight_pricing.htm; https://www.charterhub.com/listings/aircraft/for-charter/list/?Mdltxt=G550&Manu=GULFSTREAM&mdlx=exact; https://www.privatefly.com/us/private-jets/longrange-jet-hire/Gulfstream-G550
[2] https://hbr.org/2018/07/the-leaders-calendar#what-do-ceos-actually-do
[3] https://www.epi.org/files/pdf/130354.pdf
[4] https://www.bloomberg.com/opinion/articles/2017-10-31/in-defense-of-corporate-aircraft-no-really
[5] https://www.linkedin.com/pulse/tesco-wal-mart-private-jets-fabrizio-poli/
[6] https://uk.flightaware.com/resources/registration/N455DG
[7] http://www.corporatejetsolutions.com/PDF/Aircraft%20Comparisons/Citation%20VII%20vs.%20Hawker%20700%20vs.%20Lear%2045.pdf; https://awin.aviationweek.com/portals/awin/pdfs/BCAOpPlanningGuide/2012_Production.pdf; https://www.aopa.org/news-and-media/all-news/2015/november/16/hourly-operating-costs-of-45-jets-compared
[8] https://www.symmetry.com/resources/payroll-news/2017/11/13/how-many-working-days-are-in-a-year
[9] https://corporate.walmart.com/media-library/document/2019-environmental-social-governance-report/_proxyDocument?id=0000016a-9485-d766-abfb-fd8d84300000&mod=article_inline
[10] https://www.stratosjets.com/private-jets/bombardier-7500/; https://www.trilogyaviationgroup.com/jet/Global-7500; https://www.privatefly.com/us/private-jets/longrange-jet-hire/bombardier-global-7500
[11] https://www.economist.com/business/2012/04/14/winging-it
[12] https://www.eia.gov/environment/emissions/co2_vol_mass.php; https://data.worldbank.org/indicator/en.atm.co2e.pc
[13] https://www.economist.com/business/2017/02/16/why-bosses-are-flying-more-for-play-not-work
[14] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=529822


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comment  Comments

If you missed all the different announcements, I started a new podcast called Extremities about a month ago. It's all about how and why the world's most isolated human settlements exist, with the first season being on Pitcairn--the 50 person British territory in the South Pacific.
You can listen to the podcast here: http://ExtremitiesPodcast.com

7 months ago

Your math doesn't add up mate

3 weeks ago

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4 months ago

@Tiogshi Laj 
Right? I miss the old voice. This sounds like he's talking through a thick blanket.

6 months ago

Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)

6 months ago

you could also make a video/podcast about tahiti. our company is shipping a package there from europe for 7€ with dhl, even though it's on the other side of the world from us. the french goverment seems to subsidise shipping cost to french polynesia.

7 months ago

You are simply a jealous lefty
And carbon dioxide only makes up 3 percent of the atmosphere so buckle up buttercup and get a life

1 day ago

Anyone who flys commercially for work knows about the ...... “travel day”

2 days ago

A normal first class flight from london to Dubai costs more than 3.000€... normally the business class for this flight with Emirates costs 2.500/3.000€ and more so per person

2 days ago

Loved this video

3 days ago

It's not so much their salary that justifies the cost of different travel methods, but it's the value of their productivity to the company that helps justify the cost of private jets.
In your example of Walmart managers, the better question to ask is what is the value to Walmart of a regional manager being able to do 400% more store visits in a year. I'd venture a guess that the value add from that perspective is a lot more than what their take home pay can justify.

3 days ago

Cars and private jets have one thing in common: they fuck the environment to individualize transport.

3 days ago

As someone that used to insure these machines a few things to note... The low and mid end of corporate jets got hit but last time I checked... there is still a two year wait for a G550. And the value of used G550's actually increase because of the wait list. Another thing to note, most companies do not allow executives to fly on the same airplane. If jet goes down with 5 company executives on board, it can really hurt the company. So sometimes it's not just the lack of flights to areas but the fact that they won't allow two regional VP's to fly on the same plane. Finally, look in just about any Fortune 500 compensation data and you will see the CEO gets their salary grossed up to pay for taxes on using the Jet for personal use. It is one thing that bugs the hell out of me.

4 days ago

Fk the environment, as long as I'm rich.

4 days ago

Then fk u

3 days ago

Orrrrrrrr, now hear me out here, you could FaceTime

4 days ago

Congratulate me. I will be able to fly all over the world very soon. I'm so happy Microsoft flight simulator is releasing in 2020😂

5 days ago

Time is money, plain and simple.

5 days ago

economics? sounds more like social justice warrior nonsonse.

1 week ago

Here to see the people who aren't worth a coach seat on Southwest cry. Also, is this a CBA on executive time or a greenp8ce schtick?

1 week ago

Can confirm. My brother in law is a Walmart semi big-wig. This is exactly how he does his monthly store visits to western regional markets.

1 week ago

Amazing video

1 week ago

By over paying your Executives - you too can justify a Private Jet

1 week ago

I have flown private a lot and it comes down to this, if you can afford it do it. I think for companies it is a perk for the upper few but it's also a great tool to get into small airports and save time.

1 week ago

Has nothing to do with Economics. Video should be titled "The costs of Private Jets". Much closer to accounting than economics.

2 weeks ago

companies also do this because they have enormous profits and they’d have to pay substantial taxes on that profit. instead of paying taxes, they’d rather invest back into the business and make their business grow. they can see that they’re going to owe a lot of money in taxes...and then figure out where to put that money. and if they put that money into private jets, then it’s less taxes they they have to pay. sometimes it just makes financial sense to buy a jet.

2 weeks ago

Nothing is more valuable than your time

2 weeks ago

Security alone, makes the dollar argument pointless.

2 weeks ago

EXCELLENT VIDEO... I've often asked that very same question... Is it really worth the enormous cost of traveling a private jet over first class in an airliner ?... Fantastic machines, though. My favourite is the Bombadier Global 7500 and... :) the Dreamliner 787-9 :) :)

2 weeks ago

so when is half as airworthy coming?

3 weeks ago

This channel is like a bag of lays chips
90% air

3 weeks ago

I think you're over using the word Optics.

3 weeks ago

6:39 finally a legit Walmart
Plus it is better than our offbrand Walmart Called Walter mart

3 weeks ago

5:30 not too sure that’s the north east mate

3 weeks ago

Let's see how he makes this about planes

3 weeks ago

These assholes better enjoy it this shit will end when progressives take over.

3 weeks ago

Keep dreaming... you unemployable pot-head commie.

4 days ago