The Economics of Private Jets

  • нийтэлсэн 6 сарын өмнө

    Wendover ProductionsWendover Productions

    Үргэлжлэх хугацаа: 9:49

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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

Wendover Productions
Wendover Productions

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6 сарын өмнө
matt jakob
matt jakob

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3 сарын өмнө
Ferdinand
Ferdinand

@Tiogshi Laj  Right? I miss the old voice. This sounds like he's talking through a thick blanket.

5 сарын өмнө
Kristian Canoy
Kristian Canoy

Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)

5 сарын өмнө
Wubbalubba dubdub
Wubbalubba dubdub

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.

6 сарын өмнө
Scooters Videos
Scooters Videos

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.

6 сарын өмнө
TheBeybladeSport
TheBeybladeSport

Greta has committed suicide

3 өдрийн өмнө
J J
J J

We fly private prop planes, which have much different economics than jets, but with all of the benefits.

6 өдрийн өмнө
Canaan Xie
Canaan Xie

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.

6 өдрийн өмнө
Nkanyiso Maphanga
Nkanyiso Maphanga

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.

6 өдрийн өмнө
Suuhls
Suuhls

And Americans be like "Why is climate change so bad???"

8 өдрийн өмнө
Nathan BB
Nathan BB

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...

10 өдрийн өмнө
Music n Thingz
Music n Thingz

It dosent make sense that you're saying someone has to make x amount of dollars for it to be worth hiring.

11 өдрийн өмнө
JRBUISEXCAVATING
JRBUISEXCAVATING

Is the plane landing in the parking lot of these stores? What about travel time to and from the airport?

12 өдрийн өмнө
I.P. Knightly
I.P. Knightly

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.

12 өдрийн өмнө
Voxal Gaming
Voxal Gaming

8:20 - View of my home country - Poland (Vistula estuary)

12 өдрийн өмнө
Amer Dodokh
Amer Dodokh

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.

13 өдрийн өмнө
Jeff Williams
Jeff Williams

Jet costs for Walmart as a percentage of revenue is a rounding error....

13 өдрийн өмнө
Last train To Vegas
Last train To Vegas

Fuck the CEOs!!! All overpaid for nothing

14 өдрийн өмнө
John Kauffman
John Kauffman

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)

15 өдрийн өмнө
Khrashing Phantom
Khrashing Phantom

That American CEO pay breakdown was soul crushing.

16 өдрийн өмнө
Ty Wert
Ty Wert

Same big corporations pushing Greta thunberg feces, especially in an age they can do their meetings through digital means

17 өдрийн өмнө
Datmudkipify | Gaming
Datmudkipify | Gaming

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!!!

19 өдрийн өмнө
The Llama Animations
The Llama Animations

I wish I had these documentary services, but I’m a frikin 12 year old with no money

19 өдрийн өмнө
Stefan Kristersson
Stefan Kristersson

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?

20 өдрийн өмнө
Youssef Selkani
Youssef Selkani

If you make $1M/year 50k for a flight is a lot

21 өдрийн өмнө
A Nii
A Nii

Are you the guy from info graphics??? 🤔

23 өдрийн өмнө
richard bearden
richard bearden

Walmart can just do virtual tours of their store. For all the expense for being Hands-On not much change takes place...

24 өдрийн өмнө
Sally Hillal
Sally Hillal

Drastically lower CEO pay and benes . They will work for less.

26 өдрийн өмнө
София Сойко
София Сойко

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

27 өдрийн өмнө
Tony Lam
Tony Lam

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.

27 өдрийн өмнө
Tom Hamrick
Tom Hamrick

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.

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AI Totem
AI Totem

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.

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goodafy
goodafy

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.

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Doggepp
Doggepp

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.

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Larry Smith
Larry Smith

Anybody who thinks private jets are opulent has never flown one. Or, he's a midget.

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Ruby Honey
Ruby Honey

EPSTEIN HAD A PRIVATE JET AND DIDNT KILL HIMSELF

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jec1ny
jec1ny

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."

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Joshua Patrick
Joshua Patrick

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....

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WK28
WK28

True

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ThatGuyThatDoesStuff
ThatGuyThatDoesStuff

Is the private jet taking off and landing in Walmart parking lots? I guess Walmart bought the Gulf-Harrier models.

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John Smith
John Smith

Damn $100k a year for a manager at Walmart.

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Russ Nurse2B
Russ Nurse2B

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.

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Satwik V
Satwik V

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...

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Jim Dickson
Jim Dickson

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.

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goodguygto
goodguygto

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"!!!!!!

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Wadert3
Wadert3

Thank you for being the first person alive to pronounce Spokane correctly

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Avidcomp
Avidcomp

Private jets are not "horrendous" for the environment.

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no pe
no pe

not having to come in contact with the unwashed peasants is priceless for the greedy scumbag ceo's

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KurJan&Urbano
KurJan&Urbano

What about if I just want one🤔 I mean I really really really really want a Gulfstream... 🤷‍♂️

Сарын өмнө
Mike will
Mike will

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.

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Neil Zutshi
Neil Zutshi

lol jews.

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Eric
Eric

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.

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Charles Einarson
Charles Einarson

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.

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washingtonstromtrooper
washingtonstromtrooper

Makes me not want to work as hard for Walmart because I don't get a jet to work

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Hitesh Limbani
Hitesh Limbani

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)

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jay 3253
jay 3253

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.

2 сарын өмнө
SK Jung
SK Jung

nah your figuration is not that persuade. CEO doesn’t work that much. and they work through phone or meeting or doing nothing.

2 сарын өмнө
Rich R
Rich R

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.

2 сарын өмнө
Chawn Kaw
Chawn Kaw

Goals

2 сарын өмнө
Gerald Price, CREATOR, OWNER, AND OPERATOR
Gerald Price, CREATOR, OWNER, AND OPERATOR

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!!!!!

2 сарын өмнө
Gregarious Solitudinist
Gregarious Solitudinist

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.

2 сарын өмнө
Bob
Bob

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!

2 сарын өмнө
raykirkland555
raykirkland555

well i was with him up until he started the global warming shit.

2 сарын өмнө
Richard
Richard

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.

2 сарын өмнө
theboredbrowser
theboredbrowser

9:00 is that Matt Guthmiller?

2 сарын өмнө

Дараах

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