Flying High – Private Jet Travel on the Rise?

Executive pay consultant Equilar says in a recent report that corporate spending on private jets is on the upswing, despite the general hue and cry about executive excesses. The polarizing corporate perk that riled up members of the US Congress is apparently very much still in vogue at many major corporations, at least those that offered them in the first place. The Equilar report notes that the upswing is partially due to increased fuel costs but that cost is not the only factor at work here.

The Wall Street Journal, referencing this report, notes that the level of CEO private jet perks are up by some 29 percent, the highest level they have been in five years. Of course, the jet industry continues to suffer from a lack of new orders and thin volume in personal jet travel so the outlook remains far from rosy. The Associated Press for example reported that Bombardier and Cesna have both announced major layoffs, with Cesna cutting some 44 percent of its workforce since November 2008.