More Executives Choosing Jet Charter
December 26th, 2011 | Published in lifestyle
As companies brainstorm new ways to combat the economic decline, more executives are choosing to hire a jet charter, experts are saying. The increase in charter jet usage may seem counter-intuitive to industry outsiders, but the trend is spreading despite the low quarterlies that many companies are reporting. According to corporate analysts, there are a number of reasons for the increase.
One possibility cited by experts is that, when a company is seeing low returns for stockholders and facing possible cutbacks, it is more important than ever before to present an image of strength and success. If executives start to rely on cheaper forms of transportation to arrive at major conferences, shareholder meetings, or other high-profile events it can send an immediate signal that the company’s fortunes are in decline. Rather than playing into the economic crisis and Occupy protests with a bowed back, many executives are choosing to display confidence and power.
Insiders also suggest that jet charters can be a cost-saving measure in themselves. Since most high-level executives are expected to arrive by private jet, the alternative is for the company to own and maintain its own aircraft. While this can be a prudent long-term solution, especially for large companies that can fund a fleet, it can present significant immediate costs. Compared to the cost of purchasing an aircraft, chartering them can be a savvy choice.
Whatever the reasons for the trend, it shows no sign of stopping. For the foreseeable future, the private jet is a necessary symbol of success.
