The Economics of Private Jets


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Published: 2 months ago
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Animation by Josh Sherrington
Sound by Graham Haerther (http://www.Haerther.net)
Thumbnail by Simon Buckmaster

Special thanks to Patreon supporters Adam Chelminski, Arkadiy Kulev, Charles Zilinski, Chris Allen, Connor J Smith, Daddy Donald, Etienne Dechamps, Eyal Matsliah, Hank Green, John & Becki Johnston, Kyle, MyNameIsKir, Plinio Correa, Qui Le, Remi_Scarlet, Tom Dooner, Tyler Hamm, and Vaughn Mudrick

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

2 months ago

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

1 month ago

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

1 month 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.

1 month ago

what this proves is that the rich are @$$raping us and that not paying at least $15 an hour is an outrage deserving of tar and feathers.

2 months ago

When will we be getting the next episode?

2 months ago

Move the head office from Bentonville to somewhere practical. Sell the jets and pay for the move and overnight stays for managers and enjoy the tax deduction

1 day ago

I want my Learjet with a wet bar and a brass pole😎😎😎

1 day ago

There's a direct flight from Los Angeles to Manila. No need to stop via HKG.

2 days ago

Exactly! And most connecting flights go via Tokyo or Taipei:D

1 hour ago

No war but the class war

3 days ago

"Carbon footprint" - STFU with that leftist liberal global warming BS!

4 days ago

Well, there are good people that manufacturing these jets. So if there are people that are willing to buy them why not. More power to them. Except for Walmart. turn in the private fleet and pass the money off to the employees. I know that will never happen, but it's the thought that counts

5 days ago

You can sometimes get a charter flight for super cheap when the plane needs to relocate.


e.g. Someone charters a plane from NYC to Phoenix. Then someone else charters the plane from LA to NYC. The charter company will sell the Phoenix to LA leg for cheap.

5 days ago

Wasted money Jesus Christ there’s no need for these Vice Presidents to do store visits is a waste time, money and resources.

5 days ago

5:33 you said north east instead of north west

5 days ago

You lost me when you started hugging trees. nice vid until then tho...

1 week ago

Here goes my dream of having a private jet 😥

1 week ago

How to watch this video in hindi

1 week ago

Nice explanation, interesting topic. You should rethink the 'man putting on a jacket' association with CEO though.

1 week ago

the world's rich and powerful people use these planes for sex trafficking children..

Source: look at what Epstein was doing...flying with tons of politicians, celebrities, and his sex slaves. These people are fucked.

1 week ago

The corporate elites get paid to do this and play with people's livelihoods. Companies are sometimes better off without executives.

1 week ago

6:57
Is this CEO worth that much, though? He seems to have some trouble with putting on their jackets....
I mean.... it's a complicated piece of clothing, to be sure, and he does put it on right faster than I would.
But for that money, I'd expect some more Bond-style suaveness, tbh.

2 weeks ago

The value of an employee's time to the company is far removed from their salary. If salary=monetary value to the company, the company wouldn't bother employing anyone. Value to the company will be many multiples of salary.

2 weeks ago

Calculating time that's "worth it" only makes sense if money earned for a company directly proportional to time spent on the job. Which is not true. Sometimes it may be justified but the sad answer is that it is entitlement - simple as that. CEOs are convinced they are entitled for all the perks.

2 weeks ago

You're right, money earned isn't proportional to time spent on the job, it's proportional to value added: who gives a fuck about how much time you spend? You can spend all day taking a shit on the job, doesn't mean you should be paid anything valuable. Money corresponds to value added & high level executives and CEO's, since they handle all of the administration and operations of the corporation, add immense value. I'd like to see you try to handle the problems of running a multi-national corporation.

1 week ago

A lot of CEOs make more than 50 million dollars per year when you consider stock options

2 weeks ago

There are non-stop flights between MNL and LAX tho

2 weeks ago

Flying private means if there is a meeting tomorrow on the other side of the globe, the executive can fly immediately.
While for commercial, the executive not only have to wait for the time the plane fly, but also go through custom which is a hassle.
Even buffet owns a jet so he can fly around

2 weeks ago

Aren’t there some company rules to limit the number of executives on one aircraft, public or private airplane either way?

2 weeks ago

Someone should tell Walmart that there's a thing called Skype.

2 weeks ago

HELLO WENDOVER, PLANE AGAIN YES ??????????

2 weeks ago

corporate jet in realm of car; as wealthy as sr management; sedan: camry; cadillac; ferrari; suv; and so forth; keeps 5 cars; while ferrari is not driven every day; to know has one; to drive when there is need; regardless; whether its met gala; or chinese hollywood walk of fame; having one just makes sense; even not used; even at pleasure;
there is no law; sr managment must slave to stock holders who does no work and get paid; in abundance; above beyond they are due; for money;
it takes no skill; to lend money; and what they get was more than justify moral and ethical standard in free entrprise as Henry Ford once said in lawsuit; over stockholder's rights;
constitution does not enumerate; american citizens are to slave over money lenders;
so what if sr managment bought private jet and flew around ; its no different thna them having ferrari in the garage;
and lastly who would want money from people who dont want sr managment to fly private jet; becsue he want that money in his pocket?
those people should buy stocks liken to dollar general; i dont want their money; i am the one with skill; no one would hire these stock holders; thats why they are not employed;
these are people with no skill to guide stores; companies; all tehy care is money; and becaseu constiton does not recognize money lenders rights; money lend is not debt; therefore, not recognized under the constitution; thus their rights can be ignored under constitution; they are persona nongrata;


so when you got it; you got it; and when you are the best; you should not do for free;

2 weeks ago

0:36 Luxor from GTA 5

2 weeks ago

WALMART AIR BASE ARKANSAS THINK MENA THINK BARRY SEAL THINK DRUG ARM TRAFFICKING

3 weeks ago

PASSAGE : FREE UNDERAGE GIRL MASSAGE : LOYAL FOR LIFE JEFFS FRIENDLY ANGEL SERVICE 2008

3 weeks ago

Bentonville is a town of 50,000 and so is Rogers, Springdale and Fayetteville. It’s basically one town of close 300,000 when you take all the small towns bordering all of the towns as well.

3 weeks ago