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CEOs say biggest company cutbacks are in private jet travel

According to a NYSE Euronext (NYX) survey, more than a quarter of CEOs have seen reduced access to private jets and other high-end travel options.

Executives claim that the largest cutbacks were on benefits and perks.

The survey was conducted on more than 270 global CEOs. 26 percent of the respondents said that the main cutback was lower flight expenses and 21 percent cited membership fees were the main cutback. 

The results are not surprising.

As explained in a DOW Jones newswire: “The infamous use of private jets by U.S. auto executives seeking federal aid on a visit to Washington D.C. last year triggered an outcry. Other bailout recipients including Citigroup Inc. (C) backtracked on plans to expand private jet use.”

As of late, public opinion and political will have scrutinized the private aviation industry. But reports say that the manufacturers are lobbying strongly to turn the tide.

“There’s been a lot less bashing,” said Dave Cote, CEO of Honeywell Inc., a supplier for business jet manufacturers. “I’m saying the sentiment has started to change [though] it still makes people uncomfortable.”

Cote noted that sympathy for the industry is building steam, because there are over 1 million US jobs tied to the sector.