The Cost of Doing Business | What is Corporate Private Air Travel Really Used For?
Brad Stewart, XOJET Chairman & CEO, joined CNBC live for their Power Lunch segment titled, “The Cost of Doing Business: Private Jets for CEOs Under Scrutiny.” Joined by co-anchor Brian Sullivan, Melissa Lee, Tyler Mathisen, and CEO Robert Strang from Investigative Management Group, the group dives into the efficiency and safety benefits that flying private offers discerning clients.
While the topic of CEO’s using backup aircraft for business trips is capturing the interest of many, the topic can be best understood from a few angles. The use of backup aircraft should be viewed through two different lenses, what is time, efficiency and schedule vs. what is safety. Should an aircraft experience a mechanical or, in the event that weather or other unforeseen, uncontrollable circumstances prevent an aircraft from repositioning to its intended location, is when having backup aircraft available shows value in time, efficiency and schedule.
In order to keep a low profile and mitigate risk from a public safety perspective, flying private is absolutely used as a means of safety. As Brad mentioned during the interview, backup aircraft is used to provide redundancy, and the prudent thing to do would be to have a backup plan, which, ultimately should be determined by the Board and/or CEO.