The Economics of Private Jets

  Vistas 2,403,346

Wendover Productions

Wendover Productions

Hace 6 meses

Watch over 2,400 documentaries for free for 31-days by signing up at CuriosityStream.com/wendover and using the code, “Wendover”
Listen to Extremities at ExtremitiesPodcast.com
Subscribe to Half as Interesting (The other channel from Wendover Productions): eswomen.com/wname-halfasinteresting
Get the Wendover Productions t-shirt: standard.tv/collections/wendover-productions/products/wendover-productions-shirt
Support Wendover Productions on Patreon: www.patreon.com/wendoverproductions
ESwomen: www.ESwomen.com/WendoverProductions
Instagram: Instagram.com/sam.from.wendover
Twitter: www.Twitter.com/WendoverPro
Sponsorship Enquiries: wendover@standard.tv
Other emails: sam@wendover.productions
Reddit: Reddit.com/r/WendoverProductions
Animation by Josh Sherrington
Sound by Graham Haerther (www.Haerther.net)
Thumbnail by Simon Buckmaster
Special thanks to Patreon supporters Adam Chelminski, Arkadiy Kulev, Charles Zilinski, Chris Allen, Connor J Smith, Daddy Donald, Etienne Dechamps, Eyal Matsliah, Hank Green, John & Becki Johnston, Kyle, MyNameIsKir, Plinio Correa, Qui Le, Remi_Scarlet, Tom Dooner, Tyler Hamm, and Vaughn Mudrick
Music by epidemicsound.com
Select footage courtesy the AP Archive
References:
[1] www.census.gov/quickfacts/fact/table/US/SEX255218; newflightcharters.com/private_jet_charter_flight_pricing.htm; www.charterhub.com/listings/aircraft/for-charter/list/?Mdltxt=G550&Manu=GULFSTREAM&mdlx=exact; www.privatefly.com/us/private-jets/longrange-jet-hire/Gulfstream-G550
[2] hbr.org/2018/07/the-leaders-calendar#what-do-ceos-actually-do
[3] www.epi.org/files/pdf/130354.pdf
[4] www.bloomberg.com/opinion/articles/2017-10-31/in-defense-of-corporate-aircraft-no-really
[5] www.linkedin.com/pulse/tesco-wal-mart-private-jets-fabrizio-poli/
[6] uk.flightaware.com/resources/registration/N455DG
[7] www.corporatejetsolutions.com/PDF/Aircraft%20Comparisons/Citation%20VII%20vs.%20Hawker%20700%20vs.%20Lear%2045.pdf; awin.aviationweek.com/portals/awin/pdfs/BCAOpPlanningGuide/2012_Production.pdf; www.aopa.org/news-and-media/all-news/2015/november/16/hourly-operating-costs-of-45-jets-compared
[8] www.symmetry.com/resources/payroll-news/2017/11/13/how-many-working-days-are-in-a-year
[9] corporate.walmart.com/media-library/document/2019-environmental-social-governance-report/_proxyDocument?id=0000016a-9485-d766-abfb-fd8d84300000&mod=article_inline
[10] www.stratosjets.com/private-jets/bombardier-7500/; www.trilogyaviationgroup.com/jet/Global-7500; www.privatefly.com/us/private-jets/longrange-jet-hire/bombardier-global-7500
[11] www.economist.com/business/2012/04/14/winging-it
[12] www.eia.gov/environment/emissions/co2_vol_mass.php; data.worldbank.org/indicator/en.atm.co2e.pc
[13] www.economist.com/business/2017/02/16/why-bosses-are-flying-more-for-play-not-work
[14] papers.ssrn.com/sol3/papers.cfm?abstract_id=529822

private jetsairplanesjetscorporate jets

Comentarios
Wendover Productions
Wendover Productions Hace 6 meses
If you missed all the different announcements, I started a new podcast called Extremities about a month ago. It's all about how and why the world's most isolated human settlements exist, with the first season being on Pitcairn--the 50 person British territory in the South Pacific. You can listen to the podcast here: ExtremitiesPodcast.com
matt jakob
matt jakob Hace 3 meses
Good tips. Very enlighteneing. However as we move closer to vacation season, i would also recommend webghost for all types of airline fare hacks and accomodation. Travel round the world through any class section for almost half the price of the initial price. I experienced this topnotch services when i booked First Class tickets and hotel reservations at cheaper rates when i travelled to Auckland,New Zealand in July. Webghost saved me about $2000 off my expenses. They also save you lesser time and stress which is why i can recommend to anyone.. Reach webghost33<at>cyberservices,.com or text 1 470 231 5053 Thank Me Later.
Ferdinand
Ferdinand Hace 6 meses
@Tiogshi Laj Right? I miss the old voice. This sounds like he's talking through a thick blanket.
Kristian Canoy
Kristian Canoy Hace 6 meses
Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)
Wubbalubba dubdub
Wubbalubba dubdub Hace 6 meses
you could also make a video/podcast about tahiti. our company is shipping a package there from europe for 7€ with dhl, even though it's on the other side of the world from us. the french goverment seems to subsidise shipping cost to french polynesia.
Scooters Videos
Scooters Videos Hace 6 meses
what this proves is that the rich are @$$raping us and that not paying at least $15 an hour is an outrage deserving of tar and feathers.
Ellen Tani
Ellen Tani Hace 3 horas
It's not Economic It's Suicicedal
betty boop
betty boop Hace 3 días
What is the cost of putting 19 top executives on the same aircraft and it crashes.
Manuel Müller
Manuel Müller Hace 5 días
Thanks for the math! I will get one, it really makes sense.
Dew Time
Dew Time Hace 6 días
lol at climate change
Chris M
Chris M Hace 6 días
Reasons to use a private jet: 1. Leave at whatever time you want. 2. Only fly with people you know. If anyone. 3. Eat food you want, when you want. 4. If you are flying from NYC to St Louis and you realise you need to do something in Detroit, quick chat with the pilots, problem solved. 5. You can use pretty much any airport you want. 6. You dont have to wait for (possibly) hundreds of other people with their screaming kids to get on and off. 7. If you get stuck in traffic on the way to the airport, the plane will wait for you. I could probably list another 10 or 15 things but you get the idea. Its safer, easier, less stressful and, let's be honest, more fun. If I had the money I'd fly private all the time.
TheMatissV
TheMatissV Hace 7 días
CEO's to each other: "HEY! Let's pay each other exorbitant amounts of money so we can convince people it makes economic 'sense' to fly via private jet. F climate change. F the poor, let's call it a business expense and get a tax credit!" Oh, humanity...
Ron Hunter
Ron Hunter Hace 7 días
You have to understand a private jet is by definition, private. Another is jt is much easier to get work done or meet with the other executives than on commercial. There is much more to it than what you let on. So lets say it is a 50000 dollar flight but you get a multi million dollar contract because of that trip, it not only makes financial sense, it just made money. Lots of it. And again, it is private. It buys you time and makes you time. If for business. And, it is not horrendus to the environment. Modern jets are pretty clean. It would be nice if you were to actually talk to the people who fly and use them instead of making up assumptions and coming to conclusions not based in fact. I could say this video was not good for the environment. Think of the electricity generated to make this video and to make it available, and make it possible to be viewed. Bad bad bad. Think of the time wasted watching this instead of doing something productive. Wated time because either you do not understand the economics of businesses who use them or there is an agenda at work. What about the car you drove to work? Its horrendous at best. A few co2 molecules added to the atmosphere for a waste of time. Sorry but to someone who spent over 40 years in aviation it annoys me to listen to self appointed experts spout off about thing the haven't a clue about.
Cliff Morgan
Cliff Morgan Hace 8 días
Jealousy is ugly.....
Kari Ann Stickle
Kari Ann Stickle Hace 8 días
So, this is my new absolute favorite channel. Adblock turned off for this channel. One day I will be able to afford to Support this champion channel on Patreon.
Random Name
Random Name Hace 9 días
My guy needs to chill with the climate change shit, it’s never needed for the video
TheBeybladeSport
TheBeybladeSport Hace 13 días
Greta has committed suicide
J J
J J Hace 16 días
We fly private prop planes, which have much different economics than jets, but with all of the benefits.
Canaan Xie
Canaan Xie Hace 16 días
CEOs spend millions to fly to listen to or give those cliches speeches at a time when doctors are about to perform remote surgeries on humans.
Nkanyiso Maphanga
Nkanyiso Maphanga Hace 17 días
Buying a private jet is much easier and make more financial sense than to pay the fat IRS bill that these corporations get changed. That's why Walmart is happy to buy so many of them.
Suuhls
Suuhls Hace 18 días
And Americans be like "Why is climate change so bad???"
Nathan BB
Nathan BB Hace 20 días
There's a lot of taxes deductions related to jets as well depending on the country its based on... would you rather buy a brand new jet or pay the exact same amount in taxes? This video is extremely superficial...
Music n Thingz
Music n Thingz Hace 21 un día
It dosent make sense that you're saying someone has to make x amount of dollars for it to be worth hiring.
JRBUISEXCAVATING
JRBUISEXCAVATING Hace 22 días
Is the plane landing in the parking lot of these stores? What about travel time to and from the airport?
I.P. Knightly
I.P. Knightly Hace 22 días
You somehow need to factor in the human suffering of a person in Manilla that has to meet up with a planeful of Walmart executives.
Voxal Gaming
Voxal Gaming Hace 22 días
8:20 - View of my home country - Poland (Vistula estuary)
Amer Dodokh
Amer Dodokh Hace 23 días
But that is a 4 sectors flight. Which means that the cockpit crew won’t be able to accomplish it as their duty time is 10:30 hours for that flight.
Jeff Williams
Jeff Williams Hace 24 días
Jet costs for Walmart as a percentage of revenue is a rounding error....
Last train To Vegas
Last train To Vegas Hace 25 días
Fuck the CEOs!!! All overpaid for nothing
John Kauffman
John Kauffman Hace 25 días
06:00 - How often would 19 officers fly to Manila? 4 would be more realistic number for the denominator. And, WalMart would allow 19 officers to fly on one small jet? (same earlier with the example of 9 pax on a jet)
Khrashing Phantom
Khrashing Phantom Hace 26 días
That American CEO pay breakdown was soul crushing.
Ty Wert
Ty Wert Hace 27 días
Same big corporations pushing Greta thunberg feces, especially in an age they can do their meetings through digital means
Datmudkipify | Gaming
Datmudkipify | Gaming Hace 29 días
Private jets... used by the people who tell us *cough* Trudeau *cough* we need to pay more taxes to save the environment from ourselves. How dare we drive cars!!!
The Llama Animations
The Llama Animations Hace 29 días
I wish I had these documentary services, but I’m a frikin 12 year old with no money
Stefan Kristersson
Stefan Kristersson Hace un mes
If you send your gulfstream to pick up a potential customer or partner, that meeting is almost garanteed to end well for you. The jet can also be the reason for them wanting to meet you in the first place - who can say no to a private jet ride?
Youssef Selkani
Youssef Selkani Hace un mes
If you make $1M/year 50k for a flight is a lot
A Nii
A Nii Hace un mes
Are you the guy from info graphics??? 🤔
richard bearden
richard bearden Hace un mes
Walmart can just do virtual tours of their store. For all the expense for being Hands-On not much change takes place...
Sally Hillal
Sally Hillal Hace un mes
Drastically lower CEO pay and benes . They will work for less.
София Сойко
София Сойко Hace un mes
انا اعملي في محكومة دولية我工过几形事法院i work at the international court of justiceя работаб в международный суд оонyo trabajo en corte penal international
Tony Lam
Tony Lam Hace un mes
For your info, many esteemed scientists are telling use now , we need more co2 in the atmosphere. Plants grow better with that and that is what we eat. So maybe we should dump the jets and take steam locomotives (coal) around US everywhere and steam ships overseas.No matter how important a jet is to the bottom line, there will always be a small % of super rich who will use their jet to take their dog to the barber, and they could not care less about the critics.
Tom Hamrick
Tom Hamrick Hace un mes
You are correct if all you putting is only one exec on a plane. but if you have your two lead salesmen on the plane along with the exec and 2 or three execs from a company you are trying to cut a deal with that could be worth 2 or 3 billion over the next 10 years it is more than worth the cost.
AI Totem
AI Totem Hace un mes
Who was surprised Wal-Mart had their own fleet of jets? They are cost saving when it comes to their employees wages and customers prices ONLY.
goodafy
goodafy Hace un mes
For me There only one reason corporate bodies buy private jets is BECAUSE THEY CAN AFFORD IT. Every thing else are excuses. If they can't afford it, but Claim they need it, they still won't get it. I work in such corporate organisations, and with technologies like Skype, zoom, gotomeeting, WhatsApp etc. Corporate travels have been cut down to more than 90% of what it used to be, yet production and oversight have increased and money saved. Wendover and others that still justify corporate private jet travel are same people that use it and benefit from it, who would turn down a paid private jet travel. If it is about time saving, the bigger question is what was achieved with the saved time? It's like the days of Concorde supersonic travel, and its true claims of time saving but other economics of Airport wait times and cost of fuel and maintenance doesn't add up. Private jet travel is pure leisure, luxury, opulence and class that is more a distraction to serious business organisation than for productivity and efficiency.
Doggepp
Doggepp Hace un mes
Whilst you touched on this, I think the biggest reason anyone flies private jet, is that you can fly whenever you want. The plane waits for you, you dont wait for the plane. Sure, the money/time factor is huge also, but time is most often more important than money/cost for these people.
Larry Smith
Larry Smith Hace un mes
Anybody who thinks private jets are opulent has never flown one. Or, he's a midget.
Ruby Honey
Ruby Honey Hace un mes
EPSTEIN HAD A PRIVATE JET AND DIDNT KILL HIMSELF
jec1ny
jec1ny Hace un mes
Warren Buffet, who owns NetJets, a private plane charter service, always decried owning these kinds of planes as crazy. He said that even with top business executives, for the number of times in a year you would have a legitimate need to fly private, you are almost always better off chartering. A couple of years ago though, he bought a Bombardier Challenger 600. With a certain amount of guilt, he named it "The Indefensible."
Joshua Patrick
Joshua Patrick Hace un mes
Nice to know Walmart doesn’t want its executives to spend time away from home for one night on their 300-500k a year salary while it doesn’t seem to be willing to provide its rank employees a living wage....
WK28
WK28 Hace un mes
True
ThatGuyThatDoesStuff
ThatGuyThatDoesStuff Hace un mes
Is the private jet taking off and landing in Walmart parking lots? I guess Walmart bought the Gulf-Harrier models.
John Smith
John Smith Hace un mes
Damn $100k a year for a manager at Walmart.
Russ Nurse2B
Russ Nurse2B Hace 2 meses
In my opinion Wal-Mart ONLY values the time of its executives. Example: They gave the average workers a raise and then turned around and cut their hours according to what I saw on the news.
Satwik V
Satwik V Hace 2 meses
Whoever engineers and sells an electric private jet that has a significant decrease in environmental damage is going to be a very rich man or woman...
Jim Dickson
Jim Dickson Hace 2 meses
its far more efficient flying point to point in the US than catching connecting flights... you can do multiple meetings across the country in a day.
goodguygto
goodguygto Hace 2 meses
Yeah!!, Walmart is good with money?, !!BEING STINGY!!, ripping off customers!!! Walmart still owe me $20!!!, their self check-out!!, took the money out of my debit card!!! They should be called "Asshole-Mart"!!!!!!
Wadert3
Wadert3 Hace 2 meses
Thank you for being the first person alive to pronounce Spokane correctly
Avidcomp
Avidcomp Hace 2 meses
Private jets are not "horrendous" for the environment.
no pe
no pe Hace 2 meses
not having to come in contact with the unwashed peasants is priceless for the greedy scumbag ceo's
KurJan&Urbano
KurJan&Urbano Hace 2 meses
What about if I just want one🤔 I mean I really really really really want a Gulfstream... 🤷‍♂️
Mike will
Mike will Hace 2 meses
This is why I bought a Cessna CJ 4, that I can fly myself. I don't need to waste time allowing TSA to fell my Ass and look at my junk in an X ray, I can leave in the morning, waving at the TSA employee in his truck, Surprise Employees when I show up and be home in time for dinner, plus being single, it's a guarantee panty drop.
Neil Zutshi
Neil Zutshi Hace 2 meses
lol jews.
Eric
Eric Hace 2 meses
I love videos made by people about corporate executive decisions who clearly have never walked a day in the life of a corporate executive. If you think jet travel is simply about "economics" then you have a LOT to learn. Earlier today, I spoke to a CEO who was waiting in the airport for his flight from Newark to San Francisco. He had already racked up over 500,000 miles for the year flying commercial. His company is a smaller one - not the kind that could afford a private jet. However, his travel is much like that of any other CEO... horrendous. There comes a point where logistics matter simply for sanity. Conveniences matter even if the economics don't make sense on a spreadsheet. This is the same reason why someone who commutes long hours in a car each year may opt for plusher leather seats, a stereo upgrade, and some additional bells and whistles in their car - they're spending an enormous amount of time in their car, and while a cheaper model would make more "economic sense," there's a quality of life issue at play. For folks who don't travel regularly for work, it often sounds luxurious. But if you climb the ladder far enough and find yourself in airports several times a week, it'll quickly go from luxurious to laborious. It's a perk to fly private, yes... but one that's partially designed to improve efficiency and partly designed to bring quality of life to people who are sacrificing a LOT of time away from home and family. If there's a way to have mom or dad home for more baseball games, plays, concerts, and birthday celebrations and less time away, then it's hard to put a price on it. The people who look with envy on the high pay of corporate executives, along with perks like private jet travel, are also the very same people who would never dream to sacrifice so much of their personal time - not here and there, for a month, a year, or two... but for decades building their career and climbing that corporate ladder. I'm not suggesting anyone should feel bad for an executive, nor am I suggesting anyone should badly for a guy working in the mail room. Each make their choices. Each lifestyle has its benefits and drawbacks. But far more folks in the mail room seem to forget that the high pay and perks at the executive level also means giving up a good deal of their social life, personal time, and work-life balance.
Charles Einarson
Charles Einarson Hace 2 meses
Freedom of movement that isn’t tied to a hub and spoke transportation system allows for more efficiency and flexibility to land in.., let’s say Bakersfield California and not Las Angeles. Add the ability to go to literally any city in the nation and not be limited to roughly 400 Major airports that provide commercial service, private air travel makes much more sense. It is all about context. I am a low level government employee that has 13 states to manage. Private aircraft transportation makes more sense than commercial travel but because the perception is that the rich and privileged fly on private aircraft, I’m not allowed to use a charter plane or even one that I’m certified to fly myself. I am forced to fly commercially and am now restricted to their schedules and my trips are now cost prohibitive or take so much time, they won’t happen. Please tell me how to travel to Pasco, WA, Billings, MT, Rapid City, SD, Cheyenne, WY, Anchorace, AK, Nome, AK, Lincoln NE, and the other cities I need to get to that are either not served by Delta or American Airlines or are only serviced once a day.
washingtonstromtrooper
washingtonstromtrooper Hace 2 meses
Makes me not want to work as hard for Walmart because I don't get a jet to work
Hitesh Limbani
Hitesh Limbani Hace 2 meses
They also rent it like cabs.A private jet in need,after that a cab on call? So,own trips are always free(as cab compensate)
jay 3253
jay 3253 Hace 2 meses
Please do this same thing with Leanardo Decaprio and his carbon footprint vs taking a commercial flight. That hypocrite has 4 jets for just him.
SK Jung
SK Jung Hace 2 meses
nah your figuration is not that persuade. CEO doesn’t work that much. and they work through phone or meeting or doing nothing.
Rich R
Rich R Hace 2 meses
Did you take into account the time to and from the airport to the stores? My company has a jet and it is roughly 4.22$/mile and worth every penny. I am blessed to have been successful.
Chawn Kaw
Chawn Kaw Hace 2 meses
Goals
Gerald Price, CREATOR, OWNER, AND OPERATOR
Gerald Price, CREATOR, OWNER, AND OPERATOR Hace 2 meses
You are basing costs against salary instead of value add for deals made while on the trip..... which are in the 100’s of billions for WALMART THE WORLD’S LARGEST REVENUE EARNER ON PLANET EARTH PERIOD!!!!!
Gregarious Solitudinist
Gregarious Solitudinist Hace 2 meses
a vice president of a company is useless and should remain at their desk. doing nothing is what they do best, let them do it all day in Bentonville.
Bob
Bob Hace 2 meses
You've neglected to mention that the CEO who makes thousands per hour can work in the back of the company jet or hold meetings while enroute. Or the fact that some wealthy individuals use the a/c for a mixture of business and pleasure... because they can! Not a bad video but somewhat short of facts!
raykirkland555
raykirkland555 Hace 2 meses
well i was with him up until he started the global warming shit.
Richard
Richard Hace 2 meses
In the corporate world time is money, when opportunity knocks or need arrises the early bird gets the deal done, they can always get/earn more money but they can never get time back, Bill Lear understood this. Cost of operation-fuel, maintenance, ownership etc. is written off on taxes to a large extent the rest is just the cost of doing business or of being competitive.
theboredbrowser
theboredbrowser Hace 2 meses
9:00 is that Matt Guthmiller?
10 Most Expensive Private Jets In The World
14:11
10 Newest Private Jets with the Most Exclusive Interiors in Corporate Aviation
12:28
Automotive Territory: Trending News & Car Reviews
Vistas 62 696
PICKING OUR BABY’S NAME OUT OF A HAT!!!
19:43
The ACE Family
Vistas 4 085 690
Top 5 Luxury Private Jets 2019 - 2020 ✪ Price & Specs 1
5:11
design • technology • luxury
Vistas 522 261
10 Most Expensive Private Jets In The World
10:02
Top 10 Private Mini Jets and Light Airplanes for Beginner Millionaires
11:15
Automotive Territory: Trending News & Car Reviews
Vistas 508 122
$100 Million Boeing Business Jet - Royal Jet
10:03
Formula 1 Private Jets [HD]
5:59
Javier Rullan Ruano
Vistas 1 161 201
PRIVATE JET TOUR !
6:32
AzzyLand
Vistas 1 801 083
YouTube Diamond Play Button Review!
5:15
Marques Brownlee
Vistas 2 353 595
Painting Things for 24 Hours
19:52
Moriah Elizabeth
Vistas 5 368 336
How Big Does a Freeze Dried 1 lb. Gummy Bear Get?
12:39
HIGHLIGHTS | Julia Budd vs. Cris Cyborg
6:13
De'arra Said YES To The Dress!!! | Part 1
19:04
Milk. White Poison or Healthy Drink?
10:49
Kurzgesagt – In a Nutshell
Vistas 5 502 393
SIDEMEN REVERSE HIDE & SEEK ON A PRIVATE ISLAND
12:44
6 Rings - Bad Bunny (RIP Kobe Bryant)
2:04
Keller Lokomotion
Vistas 3 164 346