Corporate Jets for Top Company Officials

2007-03-08 10:33:40

( Business )



Corporate jets are usually exclusively owned by the top corporations in the world. They are also often reserved for the use of the CEOs or presidents of the company as well as their family and friends. There are however, some advantages and disadvantages for companies owning corporate jets. In terms of disadvantages, companies owning corporate jets often spend huge amounts of money every year on maintenance of the corporate jet, flight costs and manpower every time the CEO needs to take it for a ride. Corporate jets may be a danger sign for shareholders of the company, showing that the company might look out for CEO interests over theirs. As for the advantages, corporate jets serve as flying offices which CEOs the chance to get some work done while traveling. Corporate jets are also safety precautions compared to taking commercial flights. The threat of terrorism and hijacking and the risk of losing luggage on commercial flights make it more pragmatic to send top company officials on corporate jets when going on trips.

If you are one of the companies wanting to own a corporate jet for the advantages it offers, it may be more economical and practical for you to get in touch with a private jet company. Instead of looking into corporate jet sales, you can also choose to rent a corporate jet instead for when the need arises. Renting corporate jets instead of purchasing them prevents the top officials from using them for private purposes and limits travel to official business. The use of corporate jets is sometimes bundled with the compensation packages of top officials in some companies, sometimes even with retirement packages. But if companies rent a corporate jet, the savings could translate into more profits as well as better shareholder relations. It is up to you if you decide to buy or rent a corporate jet by weighing its advantages and disadvantages and what your company can afford.


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