“Private Jet” Usage Is Skyrocketing Among Elites

(FiveNation.com)- If you’re waiting in line to board a commercial airline or to claim your luggage, one thing is guaranteed- global business elites won’t be there since they’re on a private plane far away from the throng.

U.S. corporations spent the most on private planes for CEOs and chairs last year due to the coronavirus outbreak.

S&P 500 companies spent $33.8m on airborne luxury in 2021, the most since 2012, according to ISS Corporate Solutions.

Business elites have grasped the appeal long recognized by Hollywood, tried it, and have no intention of going back to their old habits as common flyers are obliged to in crowded commercial airports.

Facebook parent Meta and aerospace giant Lockheed Martin were among the top spenders as corporations lifted constraints on utilizing private planes due to Covid-19 worries. Meta CEO Mark Zuckerberg spent $1.6m on private jets, while Lockheed CEO James Taiclet spent $1.1m.

Lockheed Martin increased private jet expenditures last year “because of Covid-19.”
Lockheed stated in a regulatory filing this year that this includes $353,303 for Taiclet’s personal travel, commutes to his out-of-state residence, and deadhead flights.

The average amount spent on CEOs and chairs for private flight usage grew 36% to $170,660 last year, bolstering New York-based Wheels Up and Jettly.

Private jet travel won’t cease soon.

After offering executives private flights, Jettly CEO Justin Crabbe said, “it’s impossible to fly commercial.”

Other corporations said they lifted limitations on private jet travel for personal use during the epidemic and will transport CEOs apart from others.

People traveling in the U.S. on July 4 have suffered several delayed and cancelled flights as they try to meet family and friends.

Breitbart News stated that hundreds of planes were canceled as more Americans planned to travel.

The American Automobile Association (AAA) predicts 3.5 million Americans to travel during the holiday weekend, with queues extending beyond terminals and into the streets.

Corporate jets had no such problems.