The Economics of Private Jets

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Wendover Productions

Wendover Productions

Hace un mes

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Animation by Josh Sherrington
Sound by Graham Haerther (www.Haerther.net)
Thumbnail by Simon Buckmaster
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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 un mes
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
Ferdinand
Ferdinand Hace 24 días
@Tiogshi Laj Right? I miss the old voice. This sounds like he's talking through a thick blanket.
Kristian Canoy
Kristian Canoy Hace 29 días
Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)
Wubbalubba dubdub
Wubbalubba dubdub Hace un mes
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 un mes
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.
Everything about Romania
Everything about Romania Hace un mes
When will we be getting the next episode?
Lauren Conrad
Lauren Conrad Hace 9 horas
So Walmart executives get private jets while their associates apply for food stamps? That is messed up, no matter how you crunch the numbers.
Spidonix
Spidonix Hace 17 horas
The world's best-selling jet is the 8 seater Cessna Citation XLS
Spidonix
Spidonix Hace 17 horas
You didn’t count on delays which does happen on private jet
Zaid Habash
Zaid Habash Hace un día
This video shows how dumb Walmart can be, I mean why don't they hire more management crew that don't need so that they don't need private jets to travel and since they are on a lower scale than these vice presidents they'll get paid a lot less
Michael Red Sox
Michael Red Sox Hace 2 días
With that amount of CO2 footprint, I'd say shoot down every private jet in the world.
Joe Campbell
Joe Campbell Hace 4 días
Right up there with Al Gore's $30,000 utilitiy bills. YOU all need to make sacrifices and change, not us.
Luke Thighwalker
Luke Thighwalker Hace 4 días
8:32 which firms?
Luke Thighwalker
Luke Thighwalker Hace 4 días
No CEO is worth $24M per year.
Phil Pan
Phil Pan Hace 5 días
That's the problem with our world; we measure the value of things by using a fictitious metric; the "hourly wage" of a CEO.
Yonatan Kanosh
Yonatan Kanosh Hace 5 días
Elon Musk, you own a jet. How can someone like you put up with this carbon footprint? ELECTRIFY!!!! Also hydrogen fuel is nice
Zero Dawn
Zero Dawn Hace 6 días
Carboon footprint = Marketing Scam.
Kyle Fitzpatrick
Kyle Fitzpatrick Hace 7 días
Amazing that the CEO makes 24 M a year when Walmarts employees are so poorly paid that the American tax payers spend over a billion on subsidies to support their employees
John Holton
John Holton Hace 7 días
I don't think huge corporations do the cost analysis of every hour of their CEO's day. It's kind of a results thing, would you want to live in a world where a CEO get micromanaged? No escape.
Sauga Verse
Sauga Verse Hace 7 días
I used to fly to work on a private jet every week. Leave on Monday morning, return home on Friday afternoon. However, our particular jet had 7 seats, and they were always full. Very rarely were there any executives on the flights, it was mostly for us average workers. The perks were great, you only had to arrive at the airport 5 minutes before the flight took off. No waiting, no security, no customs, free booze, this is how all flying should be. I'm sure it was expensive, but a private jet is a great way to travel.
esuus
esuus Hace 7 días
THANK YOU for pointing out the carbon footprint. Please keep it up!
lisa dodd
lisa dodd Hace 8 días
HE SAID SPOKANE RIGHT YOU GET A LIKE SIR
NKT authentic
NKT authentic Hace 8 días
Please also make.. The Economics of... 1. Star hotels 2. Cruise liners and 3. Oil refinary companies
Divide By Zero
Divide By Zero Hace 8 días
I don't think the Regional Vice President has visited my local Walmart recently...
Florin Pappa
Florin Pappa Hace 8 días
MiMiMi you can always make sense of flying private and you'd fly private too if you could 100%, anyways still a great video with great efforts and the 1.7mio views would have definitely paid for the next charter.
Edmond Dantes
Edmond Dantes Hace 9 días
Carbon Footprint...................Right.
GoneBamboo
GoneBamboo Hace 9 días
Great for flying young'ns to your private island
GoneBamboo
GoneBamboo Hace 9 días
Makes sense if your flying underage girls with heads of state
Moe Saad
Moe Saad Hace 9 días
Man I love all your airplane videos. Keep em coming and thank you!
Ocotillodavid
Ocotillodavid Hace 9 días
I worked for a company that sold private/corporate jets, and the fat cat bastards who ride in them have egos bigger than the price of their jets. They all need to humble up.
Zion Zawko
Zion Zawko Hace 10 días
Walmart doesn’t fly out of Bentonville (XNA) they fly out of Rogers at Walmart Aviation center and they only fly in to private airports near Walmart are not near big airport! If they are there is very few
benlovestorock
benlovestorock Hace 10 días
And the minimum wage in USA is ?
Klobi for President
Klobi for President Hace 7 días
$7.25 an hour.
Pat W
Pat W Hace 10 días
Got to know for a good future
ali rk 12345
ali rk 12345 Hace 10 días
It's not all about money it's about time in private jet tou can fly anytime you want
Kevin McGushion
Kevin McGushion Hace 10 días
Something you completely overlook is the value someones time is to the company. Let's say I have a VP making $500K per year who closes my deals and I have a factory that needs $100 million a year to stay operational. Anything after $100 million is profit so I want those deals closed as fast as possible and before anyone can compete with me. It is well worth the money to have the VP take a jet and close as many $2 to $5 million dollar deals as possible as quickly as possible, before the competition. the cost of a private jet is inconsequential. The bigger the company and the bigger the deal the more this makes sense. Jeff Bezos' time on a jet isn't equal to his hourly wage multiplied by air time. Jeff's time is worth the $2 billion deal he will close in that trip.
Joe Om
Joe Om Hace 10 días
One of the biggest clues here is that the rich do is the budgeting is down to the “t”. Avg people do not ever plan their lives in that way so its always chaotic shooting from the hip every time they make a decision and sometimes even taking days to make one.
Thomas Walton
Thomas Walton Hace 11 días
Ever heard of a Skype call? It's a great way to reduce having to travel....at all... you would only have to travel occasionally
ADITYA SANTHOSH
ADITYA SANTHOSH Hace 11 días
Y ur voice deep??
Felix Murithi
Felix Murithi Hace 11 días
The calculations on value for money are bullshit
Hoyt Benson
Hoyt Benson Hace 11 días
Hey Sam! I’ve got a vid request! Could you potentially do a video on airport emergency services? Great video, by the way!
yaimavol
yaimavol Hace 11 días
Show me a climate change conference where anybody flew commercial. When your last name is Clinton or Obama, you are beyond flying commercial, even if it's first class. Then again, both of them command their own "charitable foundations" that pay for it all.
seeyouspacecowboy14
seeyouspacecowboy14 Hace 11 días
Maybe .... Just maybe you hire people and live in the city or near the city in which your company is located in I mean I understand working in nyc and take a train out to long island, but do you really need to fly hours to work daily .... just move to the state
Owen Bondar
Owen Bondar Hace 11 días
time is money
marymarluis
marymarluis Hace 12 días
Can you talk about economic disaster of AIRBUS A-380????
ZK-APA
ZK-APA Hace 11 días
marymarluis he’s made a similar video. Economies of big planes vs small planes
Inyalabudbud Punjabbidaliwad
Inyalabudbud Punjabbidaliwad Hace 12 días
Nothing the rich people do can be justified. Why fly First Class when the Economy folks get there at the exact same time? Why buy a Mercedes, when a Hyundai is acceptable? Why eat at the Four Seasons instead of Burger King? OWhen you are rich you become a superior creature who believes in his own hubris.
ZK-APA
ZK-APA Hace 11 días
Inyalabudbud Punjabbidaliwad I know it sounds dodgy, but simple answer is that the more you have, the more you’ll spend. And money is made for spending. Yes, investing and all is a better proposition, but if you are struggling in living your life, just so that you have more money, you are doing it wrong. People fly first class because they want to fly it and they can fly it. People buy Mercs because they want a merc and they can afford to buy it.
Mayank Bansal
Mayank Bansal Hace 12 días
Hey!! It's great to see your video is working well. Get it better by adding closed captions in English. Contact me for the service via email on themayankbansal@gmail.com. Thanks. ALL THE BEST. Keep Growing.
A-Bloke-Named-Chris
A-Bloke-Named-Chris Hace 14 días
8:39 wonder what those two are talking about
Joshua C.
Joshua C. Hace 14 días
I'm confused by the opening. I thought that the jet wouldn't leave NY state at the year's income of an average American.
chepe263
chepe263 Hace 15 días
are you the same guy from "Half as Interesting"?
MrSensitiveNipples
MrSensitiveNipples Hace 15 días
In as simple terms as possible: time is money.
Are you Serious
Are you Serious Hace 16 días
Wouldn’t it be cheaper to just drive from New York to Beijing? Psh stupid asses
Waseem Yusuf
Waseem Yusuf Hace 16 días
HOW DOES HE KNOW SO MUCH? Edit: nvm, just realized that the tiny number on the bottom left points to the source of the information in the links in the description.
Dnl k
Dnl k Hace 16 días
If I had all the money... I have one please. I can't stand being scanned by immigration all the time and queuing forever and delays.
Robin Eldred
Robin Eldred Hace 16 días
Your math is waaay off, dude.
Haroon khurram
Haroon khurram Hace 17 días
celebrities use them the most
Notmiuser
Notmiuser Hace 18 días
I'm too poor to watch this video.
Blame USA
Blame USA Hace 18 días
Private jet is best because they steal all our money and change our countries!
BASE Kyle
BASE Kyle Hace 18 días
OPPALENCE. YOU. OWN. EVERYTHAANG
Justin Jones
Justin Jones Hace 18 días
I live in Bentonville, GO WALMART!
Les Gasl
Les Gasl Hace 20 días
I’ve been waiting on this
William Lau
William Lau Hace 20 días
I have news for Walmart, it's not worth flying their VPs to the stories like this. Of the dozens of Walmarts I have been to, none of them is that well ran... Maybe their should have their VPs spend more times at the store instead of an 1-2hr flyby.
LucasBrien
LucasBrien Hace 20 días
I’m 16 and I wash a private jet every once and a while (private jet owners pay very well). The company that owns it has one jet that seats 7, they have 5 pilots with 3 on call at all times, and they fly about twice per day. I don’t think costs are in mind, I think they use the private jets as a sort of benefit.
ExpatMoe
ExpatMoe Hace 20 días
The salary of a CEO may be a big factor but more important must be the expected value that the CEO generates. With a 15 million salary, should probably be 100+ million in cost savings / new business/ acquisitions etc. I worked for a company once where the CEO hardly dropped in with the corporate jet unless a 10+ million deal was on the table. Then those saved hours makes sense. If a CEO flies around just to shake some hands in stores then obviously a waste. But hopefully/more likely it’s part of a continuous review on how to make a very large business grow and become more profitable
SolamenteVees
SolamenteVees Hace 20 días
"I keeps a private Jet!"
Rosa I Guess
Rosa I Guess Hace 20 días
Private jets are also good for going to international waters and private islands with guests of all ages
Anders Blomquist
Anders Blomquist Hace 21 un día
By using Skype the travelling time would be 0.
kamikaze GOD on fire
kamikaze GOD on fire Hace 21 un día
Aahaaa
fladave99 Mills
fladave99 Mills Hace 21 un día
Private jets keep people away from the MUSLIM JIHAAD!!!
Groovy Games
Groovy Games Hace 21 un día
Why do you sound different?
christian legaspi
christian legaspi Hace 22 días
Make a video about what happens if a baby is born on an airplane
Rubik
Rubik Hace 22 días
nowadays there is no need for flights - business can be done online remotely easily!
Jake
Jake Hace 22 días
PEASANTS.
Carl Senden
Carl Senden Hace 22 días
Most people could do their business via email and Skype. No need to be there in person.
Vadim Propeleyentev
Vadim Propeleyentev Hace 22 días
I love the way they look personally
Stuart Conner
Stuart Conner Hace 22 días
The execs don't care about how un-economic it is, they demand the opulence and status it signals. screw the shareholder.
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