New CEO John Flannery , replacing long time GE CEO Jeff Inmelt, is doing some cost cutting. He shut down GE's flight operations and is putting the aircraft up for sale.
Good move Mr. Flannery. Corporate jets cost like crazy and your people can get there flying commercial. I know they are nifty perks for company brass, but the money would be better spend on building new factories, developing new products, and boosting wages and dividends. A corporate jet costs nearly as much as a real jetliner, say a 737, and costs nearly as much to fly. And you gotta keep on paying on the planes and paying the salaries of the flight dept whether they fly or not. The airlines pay a lot for their planes, but they fly the hell out of them, ten flight hours a day or more. Corporate jets seldom fly as much as one hour a day.
If your company people need to travel, fly commercial, coach is cozy. Running your own mini airline just costs your company barrels of money for no good reason.
Stockholders should take notice if your companies are wasting money running a company mini airline.
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