The Economics of Private Jets

  • Avaldati 10 місяців tagasi

    Wendover ProductionsWendover Productions

    Kestus: 09:49

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

Wendover Productions
Wendover Productions

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

10 місяців tagasi
Ethan Hsu
Ethan Hsu

I missed all the announcements

Місяць tagasi
Liquifed Aviation
Liquifed Aviation

It's not the same here tho https://youtu.be/Yl-x3EZyy6g

Місяць tagasi
Jessie Matthews
Jessie Matthews

Your math doesn't add up mate

4 місяці tagasi
matt jakob
matt jakob

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7 місяців tagasi
Ferdinand
Ferdinand

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

10 місяців tagasi
snapyFN
snapyFN

if the plane that had the top 19 Walmart employees crashed that would be very bad for their company

4 päeva tagasi
Void X
Void X

I've flown in one of those jets :D

5 päeva tagasi
jordan rader
jordan rader

Why dont you rich guys help us young ones out take us in a charter or so for fun

9 päeva tagasi
Bosstown Dynamics
Bosstown Dynamics

Why on earth doesn't Walmart just headquarter their regional execs in the region? Would seem cheaper than both multiple days of commercial fights and owning a fleet of 20 jets...

11 päeva tagasi
ithinkitsaurus
ithinkitsaurus

With the Walmart example, you missed on opportunity cost. He has 2 extra days labour, where he can complete additional storevists or other management tasks

13 päeva tagasi
CaptainWafflez
CaptainWafflez

This video was sponsored by Bombardier. Enter the code BOEINGSUCKS for 15% off your next private jet

20 päeva tagasi
ocadioan
ocadioan

4:55 is anyone else wondering what a regional manager could possibly do in a two hour visit? It's too short to go through anything in detail, and most long accounting and such can be done over email. This leaves only going there to be seen going there, which seems like a hell out of a lot of money to shill out just to give regional managers some exposure time(20x20million just to buy the planes, and then maintenance, crew and fuel to use them).

20 päeva tagasi
Philipp Yeo 2
Philipp Yeo 2

Leerjet eh? Blog it.

21 päev tagasi
SolidSaber
SolidSaber

But why would they want to go to Spokane anyway?

22 päeva tagasi
BUH
BUH

so if the ceo salary 1mill and regular staffs 30k per year.. then this is a real human trafficking . so it seems in USA.. human trafficking is allowed and legal .

23 päeva tagasi
antipoti
antipoti

I wonder how it changed with the COVID crisis.

24 päeva tagasi
Aeturnalis
Aeturnalis

In about 10 to 15 years, it'll be interesting to watch all of those corporate private jets repurposed as crop dusters after we feed all of the bourgeoisie to the guillotines.

Місяць tagasi
Leo
Leo

Aeturnalis wtffff

23 päeva tagasi
Jason Dashney
Jason Dashney

It also helps recruit executives. Given the choice between 2 otherwise equal companies, you'll work for the one with private jets every time

Місяць tagasi
Liberty Springs
Liberty Springs

Well now suddenly it makes sense due to covid.

Місяць tagasi
William Anthony
William Anthony

Ya it’s expensive but the price you pay to separate yourself from clueless muppets who leave their shoes on at TSA is priceless.

Місяць tagasi
ciaran mcauley
ciaran mcauley

wendover for me

Місяць tagasi
Towelie Towel
Towelie Towel

To anyone who thinks this is unfair... That might be true. But an average CEO works 80 hours a week on the clock, and more off the clock. You’re life is completely controlled by your company, you have to answer to the stock market, or the owner, life becomes public, you have constant stress of losing your business, and when the market crashes an average person loses maybe $100, the CEO millions. If you have the risk, you get the reward.

Місяць tagasi
Shannon Parkhill
Shannon Parkhill

Up next, the economics of pitchforks

Місяць tagasi
Haha Huhu
Haha Huhu

I don't know how the States airports works, but I know that where I'm from, you need approval from the airport tower for air clearance which might take a lot of time, but then again; my country is built upon human relations so if you have stature and relation with government bureaucracy it won't take almost any time for air clearance.

Місяць tagasi
Filip Buczyński
Filip Buczyński

One problem, CEO time is not worth many most of the time income is not strictly correlated with time spent at work.

Місяць tagasi
w dvd
w dvd

6:32 you can just fly to NYC and take the daily Philippine airline flight to Manila

Місяць tagasi
Norm
Norm

The northeast? Looks like the northwest to me.

Місяць tagasi
I am BIGGIE Cheese
I am BIGGIE Cheese

NO They fly above weather and can GO FASTER than a Commercial Jet....

Місяць tagasi
Jake K.
Jake K.

Great video. I bought bombardier stock before watching this and I think it may be have been a good buy :/

2 місяці tagasi
EC Photography
EC Photography

Walmart does alot for management, particularly upper management. The workers...not so much...

2 місяці tagasi
Kevin Smith
Kevin Smith

This is why Walmart employees are paid in food stamps, because they keep all that money.

2 місяці tagasi
Eric Cartman
Eric Cartman

thats a lot of maths !

2 місяці tagasi
Fonzi2626
Fonzi2626

I thought executives are not allowed to fly together on the same flight. The bombardier flying from bentonville to Manila would not be feasible then.

2 місяці tagasi
FireOccator
FireOccator

Have they tried phone calls?

2 місяці tagasi
Gurlok LeVert
Gurlok LeVert

Oh, yes. The hard working CEO, yes. The guy who's work is so valuable that he gets paid in a day what his employees make in a year. Such hard working, very rich, much chop chop.

2 місяці tagasi
Douglas Davis
Douglas Davis

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2 місяці tagasi
Ju James
Ju James

Very good

3 місяці tagasi
PatheticTV
PatheticTV

6:35 just fyi philippine airlines offers nonstop flights from lax to mnl, i think

3 місяці tagasi
Samuel Xie
Samuel Xie

Which jet is better Gulfstream G700 or Bombardier Global 7500

3 місяці tagasi
Cedric K. Hal
Cedric K. Hal

Flying around the world see you soon

3 місяці tagasi
MikePlaysIt
MikePlaysIt

Yeah and the majority of that traffic at Walmarts airport there are booked by Bloomberg to he can personally fly in and buy Walmart and Walmart's CEO's stance on gun control. Look at their updated policy, mentions their partnership with everytown for gun safety and you know damn well walmart got a big piece of those multiple 7 figure donations that were constantly anonymously made to every joyable anti-gun "charity".... lol

3 місяці tagasi
Tuneitupful
Tuneitupful

Some thing called Skype anyone....?!

3 місяці tagasi
Justin Jones
Justin Jones

I live in Bentonville

3 місяці tagasi
C.C. ORR
C.C. ORR

Lol what a stupidly titled video Can only be the brain child of an American

3 місяці tagasi
Aaackermann
Aaackermann

So these people earn so much money, that it is more cost effective to give them even more money to spend on an overpriced LearJet normal people could not dream of. That is capitalism in a nutshell. Good flight, good night!

3 місяці tagasi
Aaackermann
Aaackermann

​@Carlos Crespo I don't think you have understood how capitalism works. You won't "starve" because big players don't get money! Where do you get this idea from? We are talking about the utter extremes here! They are who take away money and food from the poor. Please make good money! No problem at all! But the difference between "good money" and the amount we are talking here is astronomical! And where do you get the idea from, that I wish my life would be better? I am very happy. But I know how bad life is for others. And I know the cause! That is what makes me angry! You are afraid to starve? People actually starve BECAUSE of these "big players". For heavens sake!

2 місяці tagasi
Carlos Crespo
Carlos Crespo

No. Capitalism got them there. Please don't sit there waiting for me to get into a mega jet and go make some big deals that will probably make your life better. Don't hold your breath because I don't have any money. I'm glad somebody does, otherwise we would be starving.

2 місяці tagasi
Valente82
Valente82

05:30 - Since when is Spokane etc... in the “northeast” 😂

3 місяці tagasi
Mike G
Mike G

Don’t let Al or Greta see this video

3 місяці tagasi
paradise wara diala
paradise wara diala

Very nice

3 місяці tagasi
Robert Kreamer
Robert Kreamer

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

3 місяці tagasi
John Newman
John Newman

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

3 місяці tagasi
Timo 555
Timo 555

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

3 місяці tagasi
Owen
Owen

Loved this video

3 місяці tagasi
Steve Brown
Steve Brown

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 місяці tagasi
Two Point Us
Two Point Us

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

3 місяці tagasi
Spy Living TV
Spy Living TV

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.

3 місяці tagasi
Thoreau
Thoreau

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

3 місяці tagasi
Two Point Us
Two Point Us

Then fk u

3 місяці tagasi
Jay blade
Jay blade

Orrrrrrrr, now hear me out here, you could FaceTime

3 місяці tagasi
Tapan Das
Tapan Das

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😂

3 місяці tagasi
Ricky Hansen
Ricky Hansen

Time is money, plain and simple.

3 місяці tagasi
Cory Johnson
Cory Johnson

economics? sounds more like social justice warrior nonsonse.

3 місяці tagasi
Jeremy Bell
Jeremy Bell

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?

3 місяці tagasi
Dan Harris
Dan Harris

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.

3 місяці tagasi
djikan gabric
djikan gabric

Amazing video

3 місяці tagasi
TheJalipa
TheJalipa

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

3 місяці tagasi
Clyde Dooseldorph
Clyde Dooseldorph

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.

3 місяці tagasi
Ryan Younggreen
Ryan Younggreen

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

3 місяці tagasi
DJ Sunkisst
DJ Sunkisst

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.

3 місяці tagasi
J R
J R

Nothing is more valuable than your time

3 місяці tagasi
Dmac K
Dmac K

Security alone, makes the dollar argument pointless.

3 місяці tagasi
Morris Rose
Morris Rose

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 :) :)

3 місяці tagasi
Scooty789
Scooty789

so when is half as airworthy coming?

4 місяці tagasi
MWB Gaming
MWB Gaming

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

4 місяці tagasi
Arthur Wallis
Arthur Wallis

I think you're over using the word Optics.

4 місяці tagasi
Pleb Plays
Pleb Plays

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

4 місяці tagasi
Aviation Now
Aviation Now

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

4 місяці tagasi
Tarek Alhussayni
Tarek Alhussayni

Let's see how he makes this about planes

4 місяці tagasi
Artificial Avocado
Artificial Avocado

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

4 місяці tagasi
Thoreau
Thoreau

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

3 місяці tagasi
Lucas Lin
Lucas Lin

This assumes the executives are just sitting in the plane twiddling their thumbs - which NEVER happens. They always have documents, pitches, emails to review even if offline.

4 місяці tagasi
Ellen Tani
Ellen Tani

It's not Economic It's Suicicedal

4 місяці tagasi
betty boop
betty boop

What is the cost of putting 19 top executives on the same aircraft and it crashes.

4 місяці tagasi
Dew Time
Dew Time

lol at climate change

4 місяці tagasi
Chris M
Chris M

Reasons to use a private jet: 1. Leave at whatever time you want. 2. Only fly with people you know. If anyone. 3. Eat food you want, when you want. 4. If you are flying from NYC to St Louis and you realise you need to do something in Detroit, quick chat with the pilots, problem solved. 5. You can use pretty much any airport you want. 6. You dont have to wait for (possibly) hundreds of other people with their screaming kids to get on and off. 7. If you get stuck in traffic on the way to the airport, the plane will wait for you. I could probably list another 10 or 15 things but you get the idea. Its safer, easier, less stressful and, let's be honest, more fun. If I had the money I'd fly private all the time.

4 місяці tagasi
TheMatissV
TheMatissV

CEO's to each other: "HEY! Let's pay each other exorbitant amounts of money so we can convince people it makes economic 'sense' to fly via private jet. F climate change. F the poor, let's call it a business expense and get a tax credit!" Oh, humanity...

4 місяці tagasi
Ron Hunter
Ron Hunter

You have to understand a private jet is by definition, private. Another is jt is much easier to get work done or meet with the other executives than on commercial. There is much more to it than what you let on. So lets say it is a 50000 dollar flight but you get a multi million dollar contract because of that trip, it not only makes financial sense, it just made money. Lots of it. And again, it is private. It buys you time and makes you time. If for business. And, it is not horrendus to the environment. Modern jets are pretty clean. It would be nice if you were to actually talk to the people who fly and use them instead of making up assumptions and coming to conclusions not based in fact. I could say this video was not good for the environment. Think of the electricity generated to make this video and to make it available, and make it possible to be viewed. Bad bad bad. Think of the time wasted watching this instead of doing something productive. Wated time because either you do not understand the economics of businesses who use them or there is an agenda at work. What about the car you drove to work? Its horrendous at best. A few co2 molecules added to the atmosphere for a waste of time. Sorry but to someone who spent over 40 years in aviation it annoys me to listen to self appointed experts spout off about thing the haven't a clue about.

4 місяці tagasi

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