March 11, 2016
Private Airplane Use: Stats for S&P 500
– Broc Romanek, CompensationStandards.com
Here’s an excerpt from this Financial Times article, which has some interesting charts:
The Corporate Jet Files, an analysis of 1,000 securities filings by the Financial Times, has found that a significant number of corporations are still footing the bill for their executives to take personal flights on corporate jets, sometimes accompanied by family and friends. Many of the companies contacted by the FT cited security concerns as a reason for demanding that executives use corporate jets even for personal travel.
The FT’s findings show that a small group of companies — roughly 10 per cent of the S&P 500 — account for about two-thirds of total spending on personal use of corporate aircraft. The league tables of the biggest spenders are dominated by groups where the founder or a family exerts significant control.