Merrill Said to Rein in Private Jet Use

23 07 2008

Merrill Lynch may be grounding some of its top executives.

According to The Financial Times, the investment bank is putting the brakes on the use of private jets among its senior managing directors, requiring them to obtain direct clearance from the global head of investment banking to hire one and to demonstrate there is no more efficient means of transport.

Still, some of the newspaper’s back-of-the-envelope calculations may give the bank’s executives some hope, especially if they travel in teams.

According to The Financial Times, a Cesna Citation CJ3, which takes six passengers, costs $14,000 for a trip from New York’s Teterboro airport to Indianapolis and then on to Cincinnati and back. By contrast, it calculated, a short-notice return ticket from New York Newark just to Indianapolis costs about $1,000 in first class.

Private Jet Options





National Aviation Hall of Fame Weekend

22 07 2008

Sean Tucker enshrined in Aviation Hall of Fame

The National Aviation Hall of Fame Saturday conducted its 47th annual enshrinements in Dayton, Ohio, and along with an airline man, a WWII triple-ace and military commander, active air show pilot and general aviation ambassador Sean D. Tucker was on the list. Dr. Peter Diamandis and his X Prize Foundation were also honored, being awarded the “Spirit of Flight Award.” As for enshrinees, Clarence E. “Bud” Anderson flew the P-51B “Old Crow” while assigned to the 357th Fighter Group. The 357th was credited with shooting down a record 609 1/2 enemy aircraft in only 15 months and produced 42 aces. Fellow military man, the late William A. Moffett, the “father of naval aviation,” was also enshrined as was Herbert D. Kelleher, founder and retired chairman of Southwest Airlines.

The list of recognized presenters included Rear Admiral John W. “Bill” Goodwin, USN, Commander, Naval Air Force, Atlantic Fleet and Col. Joe Kittinger, USAF (Ret) and 1997 enshrinee. Tucker also flew in the Dayton Air Show over the weekend.

Source: AVWeb





Boss in the Corporate Jet Is Likely to Be a Woman

17 07 2008

By JOE SHARKEY – Published: July 8, 2008
The private jet industry has long struggled against the stereotype of the typical user as a well-off guy in a big corporate jet.

And you will see plenty evidence of the stereotype in New York next week, as squadrons of business jets arrive at regional airports delivering executives and clients for the All-Star game at Yankee Stadium. (Bringing along clients, of course, turns a day at the ballpark into a business trip.)

But as the National Business Aviation Association points out, about 75 percent of the 11,000 business jets in the United States are operated by small to midsize companies and entrepreneurs. And increasingly, especially within that niche, the boss in the company jet is likely to be a woman.

XOJet, the big private jet company, says that about 15 percent of its customers who contract for 100 hours or more a year in flight time are female. And while few keep precise statistics, all of the private jet companies I spoke with, including charter operators, said that women are a growing part of their market.
For women, ego and status seem to be less important as motivators than considerations like avoiding the problems and delays of commercial airports. Essentially, some say, you are buying time.

“I need to more carefully pick and choose how I spend my time, and the airplane to me is an enabler,” said Mary K. Swanson, a businesswoman in the Phoenix area who founded a wellness company, HealthCare Dimensions, in 1992 and sold it in 2006. She then founded the Swanson Family Foundation, a philanthropy that works among the poor in the United States and abroad.

Her plane is a light-cabin seven-seat Hawker 400, whose 1,400-mile range makes it ideal for foundation business that has to be done in a day, when a trip by commercial air travel can take twice the time. “It often makes me say yes when I would otherwise say no,” she said.

Read the New York Times article





US and EU Aviation Industries Agree to Collaborate

7 07 2008

Officials from U.S. and European aviation agencies and industry wrapped up a two-day meeting in Brussels on Tuesday with general agreement on business and safety issues. FAA Acting Administrator Bobby Sturgell and Antonio Tajani, head of transport for the European Union, signed an agreement to promote technical cooperation between the FAA and the European Aviation Safety Agency (EASA). The agreement addresses aircraft certification, environmental approvals, and maintenance, and aims to enhance safety while reducing regulatory costs for manufacturers, operators and aviation authorities. Pete Bunce, president and CEO of the General Aviation Manufacturers Association (GAMA), welcomed the new agreement. “We view this strategic partnership between the U.S. and the European Community as a real milestone that will advance our shared safety visions,” said Bunce.

“The relationship between the U.S. and Europe has proven its resilience and continued trans-Atlantic cooperation will increase efficiency and help bring new products to the global market more expeditiously. It’s good for aviation safety and business, it’s good for Europe, and it’s good for the United States.” Bunce added that he hopes the next step will be to update validation processes and EASA certification fees and charges. Those concerns had held up the agreement for several months.

Source: AVWeb