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Equilar study indicates that CEOs still use Private Jets

Many CEOs are still traveling via private jets, despite the current economic environment.

Throughout Corporate America, companies require top executives to use business planes for business and leisure. Companies claim that safety is a requirement (not a perk) for high-profile businessmen. Plus, private flights are more efficient for busy execs, who can’t waste time waiting in commercial airports.

While some companies have cut back on these private flights, a recent study from Equilar indicated that private jet travel of top execs show no signs of fading.
 
The report also found that the value of CEO airplane perks was highest in 2008 in the last five years. Its overall value grew by 29 percent compared to 2007. However, Equilar noted that the rise in fuel costs for 2008 may explain the increase.

Still, the study suggested that there is a reluctance on the part of companies to eliminate or reduce aircraft perks.

The private jet has been a long lightning rod of criticism for company shareholders. With the economy in turmoil, public opinion goes against the industry as well.