The Economics of Private Jets

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  • Published: 16 July 2019
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    Music by epidemicsound.com
    Select footage courtesy the AP Archive

    References:
    [1] census.gov/quickfacts/fact/table/US/SEX255218; newflightcharters.com/private_jet_charter_flight_pricing.htm; charterhub.com/listings/aircraft/for-charter/list/?Mdltxt=G550&Manu=GULFSTREAM&mdlx=exact; privatefly.com/us/private-jets/longrange-jet-hire/Gulfstream-G550
    [2] hbr.org/2018/07/the-leaders-calendar#what-do-ceos-actually-do
    [3] epi.org/files/pdf/130354.pdf
    [4] bloomberg.com/opinion/articles/2017-10-31/in-defense-of-corporate-aircraft-no-really
    [5] linkedin.com/pulse/tesco-wal-mart-private-jets-fabrizio-poli/
    [6] uk.flightaware.com/resources/registration/N455DG
    [7] corporatejetsolutions.com/PDF/Aircraft%20Comparisons/Citation%20VII%20vs.%20Hawker%20700%20vs.%20Lear%2045.pdf; awin.aviationweek.com/portals/awin/pdfs/BCAOpPlanningGuide/2012_Production.pdf; aopa.org/news-and-media/all-news/2015/november/16/hourly-operating-costs-of-45-jets-compared
    [8] 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] stratosjets.com/private-jets/bombardier-7500/; trilogyaviationgroup.com/jet/Global-7500; privatefly.com/us/private-jets/longrange-jet-hire/bombardier-global-7500
    [11] economist.com/business/2012/04/14/winging-it
    [12] eia.gov/environment/emissions/co2_vol_mass.php; data.worldbank.org/indicator/en.atm.co2e.pc
    [13] 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

Comments • 3 029

  • Wendover Productions
    Wendover Productions   1 months back

    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: http://ExtremitiesPodcast.com

    • Ferdinand
      Ferdinand  3 weeks back

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

    • Kristian Canoy
      Kristian Canoy  4 weeks back

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

    • Wubbalubba dubdub
      Wubbalubba dubdub  1 months back

      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  1 months back

      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  1 months back

      When will we be getting the next episode?

  • Zaid Habash
    Zaid Habash  2 hours back

    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  1 days back

      With that amount of CO2 footprint, I'd say shoot down every private jet in the world.

      • Joe Campbell
        Joe Campbell  3 days back

        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  4 days back

          8:32 which firms?

          • Luke Thighwalker
            Luke Thighwalker  4 days back

            No CEO is worth $24M per year.

            • Phil Pan
              Phil Pan  4 days back

              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  5 days back

                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  5 days back

                  Carboon footprint = Marketing Scam.

                  • Kyle Fitzpatrick
                    Kyle Fitzpatrick  6 days back

                    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  6 days back

                      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  7 days back

                        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  7 days back

                          THANK YOU for pointing out the carbon footprint. Please keep it up!

                          • lisa dodd
                            lisa dodd  1 weeks back

                            HE SAID SPOKANE RIGHT YOU GET A LIKE SIR

                            • NKT authentic
                              NKT authentic  1 weeks back

                              Please also make.. The Economics of... 1. Star hotels 2. Cruise liners and 3. Oil refinary companies

                              • Divide By Zero
                                Divide By Zero  1 weeks back

                                I don't think the Regional Vice President has visited my local Walmart recently...

                                • Florin Pappa
                                  Florin Pappa  1 weeks back

                                  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  1 weeks back

                                    Carbon Footprint...................Right.

                                    • GoneBamboo
                                      GoneBamboo  1 weeks back

                                      Great for flying young'ns to your private island

                                      • GoneBamboo
                                        GoneBamboo  1 weeks back

                                        Makes sense if your flying underage girls with heads of state

                                        • Moe Saad
                                          Moe Saad  1 weeks back

                                          Man I love all your airplane videos. Keep em coming and thank you!

                                          • Ocotillodavid
                                            Ocotillodavid  1 weeks back

                                            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  1 weeks back

                                              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  1 weeks back

                                                And the minimum wage in USA is ?

                                              • Pat W
                                                Pat W  1 weeks back

                                                Got to know for a good future

                                                • ali rk 12345
                                                  ali rk 12345  1 weeks back

                                                  It's not all about money it's about time in private jet tou can fly anytime you want

                                                  • Kevin McGushion
                                                    Kevin McGushion  1 weeks back

                                                    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  1 weeks back

                                                      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  1 weeks back

                                                        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  1 weeks back

                                                          Y ur voice deep??

                                                          • Felix Murithi
                                                            Felix Murithi  1 weeks back

                                                            The calculations on value for money are bullshit

                                                            • Hoyt Benson
                                                              Hoyt Benson  1 weeks back

                                                              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  2 weeks back

                                                                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  2 weeks back

                                                                  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  2 weeks back

                                                                    time is money

                                                                    • marymarluis
                                                                      marymarluis  2 weeks back

                                                                      Can you talk about economic disaster of AIRBUS A-380????

                                                                      • ZK-APA
                                                                        ZK-APA  1 weeks back

                                                                        marymarluis he’s made a similar video. Economies of big planes vs small planes

                                                                    • Inyalabudbud Punjabbidaliwad

                                                                      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  1 weeks back

                                                                        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  2 weeks back

                                                                      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 [email protected]
                                                                      Thanks. ALL THE BEST. Keep Growing.

                                                                      • A-Bloke-Named-Chris
                                                                        A-Bloke-Named-Chris  2 weeks back

                                                                        8:39 wonder what those two are talking about

                                                                        • Joshua C.
                                                                          Joshua C.  2 weeks back

                                                                          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  2 weeks back

                                                                            are you the same guy from "Half as Interesting"?

                                                                            • MrSensitiveNipples
                                                                              MrSensitiveNipples  2 weeks back

                                                                              In as simple terms as possible: time is money.

                                                                              • Are you Serious
                                                                                Are you Serious  2 weeks back

                                                                                Wouldn’t it be cheaper to just drive from New York to Beijing? Psh stupid asses

                                                                                • Waseem Yusuf
                                                                                  Waseem Yusuf  2 weeks back

                                                                                  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  2 weeks back

                                                                                    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  2 weeks back

                                                                                      Your math is waaay off, dude.

                                                                                      • Haroon khurram
                                                                                        Haroon khurram  2 weeks back

                                                                                        celebrities use them the most

                                                                                        • Notmiuser
                                                                                          Notmiuser  2 weeks back

                                                                                          I'm too poor to watch this video.