The Economics of Private Jets

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  • Published on: 16 July 2019
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    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
  • Runtime : 9:49
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COMMENTS: 40

  • Wendover Productions
    Wendover Productions   2 months ago

    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

  • Eric W
    Eric W   1 days ago

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

  • Peter R
    Peter R   2 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

  • Nathan Berrigan
    Nathan Berrigan   3 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.

  • Frank V
    Frank V   3 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.

  • Nick Rogers
    Nick Rogers   5 days ago

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

  • semi-atomic
    semi-atomic   1 weeks ago

    Here goes my dream of having a private jet 😥

  • vilstas
    vilstas   1 weeks ago

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

  • C hill
    C hill   1 weeks 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.

  • infinitecanadian
    infinitecanadian   1 weeks ago

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

  • David Gretzschel
    David Gretzschel   1 weeks ago

    6:57Is 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.

  • Justin Harris
    Justin Harris   1 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.

  • Petr Gladkikh
    Petr Gladkikh   1 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.

  • DR NO
    DR NO   1 weeks ago

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

  • Napoleon 96
    Napoleon 96   2 weeks ago

    There are non-stop flights between MNL and LAX tho

  • Armistice
    Armistice   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

  • Jace Curtis
    Jace Curtis   2 weeks ago

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

  • ENDRAY GG
    ENDRAY GG   2 weeks ago

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

  • david young
    david young   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;

  • Android Galaxy
    Android Galaxy   2 weeks ago

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

  • Android Galaxy
    Android Galaxy   2 weeks ago

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

  • Zach Smith
    Zach Smith   2 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.

  • Brian Messemer
    Brian Messemer   2 weeks ago

    Who is that man and what is he doing at 9:03 😂

  • Tealie17
    Tealie17   2 weeks ago

    You really like Spokane, it’s in a lot of your vids

  • Denis Shvets
    Denis Shvets   2 weeks ago

    just try to find first class tickets from London to Dubai for the next day for 6-8 people?1. There will be no tickets available so you have to change plans or maybe miss the opportunity 2. And then when you finally find available seats you have to pay 10000 US dollars for one person for round trip,when business jet can hold 8 persons with hi comfort any time YOU need.

  • Aristocrafied
    Aristocrafied   3 weeks ago

    You miss a very important point here. You only consider the salary of the person flying, not the value of the work they do. For instance my friend works at an engineering firm and makes about €50k a year but he knows he brings in more than 3 times that in profit for the company. These guys aren't flown over there just for nothing, they must have valuable insights that will improve profits, decrease expenditure or both.

  • Lauren Conrad
    Lauren Conrad   3 weeks ago

    So Walmart executives get private jets while their associates apply for food stamps? That is messed up, no matter how you crunch the numbers.

  • Spidonix
    Spidonix   3 weeks ago

    The world's best-selling jet is the 8 seater Cessna Citation XLS

  • Spidonix
    Spidonix   3 weeks ago

    You didn’t count on delays which does happen on private jet

  • Zaid Habash
    Zaid Habash   3 weeks ago

    This video shows how dumb Walmart can be, I mean why don't they hire more management crew that don't need so that they don't need private jets to travel and since they are on a lower scale than these vice presidents they'll get paid a lot less

  • Michael Red Sox
    Michael Red Sox   3 weeks ago

    With that amount of CO2 footprint, I'd say shoot down every private jet in the world.

  • Joe Campbell
    Joe Campbell   3 weeks ago

    Right up there with Al Gore's $30,000 utilitiy bills. YOU all need to make sacrifices and change, not us.

  • Phil Pan
    Phil Pan   4 weeks ago

    That's the problem with our world; we measure the value of things by using a fictitious metric; the "hourly wage" of a CEO.

  • Yonatan Kanosh
    Yonatan Kanosh   4 weeks ago

    Elon Musk, you own a jet. How can someone like you put up with this carbon footprint? ELECTRIFY!!!! Also hydrogen fuel is nice

  • Zero Dawn
    Zero Dawn   4 weeks ago

    Carboon footprint = Marketing Scam.