The Economics of Private Jets

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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

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  • 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

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

      FerdinandFerdinand18 วันที่ผ่านมา
    • Hi Wendover!! I want to request a video about how airline alliances work. (Star Alliance, SkyTeam and Oneworld)

      Kristian CanoyKristian Canoy22 วันที่ผ่านมา
    • 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.

      Wubbalubba dubdubWubbalubba dubdub26 วันที่ผ่านมา
    • 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.

      Scooters VideosScooters Videos29 วันที่ผ่านมา
    • When will we be getting the next episode?

      Everything about RomaniaEverything about Romaniaหลายเดือนก่อน
  • 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

    Kyle FitzpatrickKyle Fitzpatrickชั่วโมงที่ผ่านมา
  • 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.

    John HoltonJohn Holton10 ชั่วโมงที่ผ่านมา
  • 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.

    Sauga VerseSauga Verse21 ชั่วโมงที่ผ่านมา
  • THANK YOU for pointing out the carbon footprint. Please keep it up!

    esuusesuus21 ชั่วโมงที่ผ่านมา
  • HE SAID SPOKANE RIGHT YOU GET A LIKE SIR

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

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

    Divide By ZeroDivide By Zeroวันที่ผ่านมา
  • 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.

    Florin PappaFlorin Pappaวันที่ผ่านมา
  • Carbon Footprint...................Right.

    Edmond DantesEdmond Dantes2 วันที่ผ่านมา
  • Great for flying young'ns to your private island

    GoneBambooGoneBamboo2 วันที่ผ่านมา
  • Makes sense if your flying underage girls with heads of state

    GoneBambooGoneBamboo2 วันที่ผ่านมา
  • Man I love all your airplane videos. Keep em coming and thank you!

    Moe SaadMoe Saad2 วันที่ผ่านมา
  • 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.

    OcotillodavidOcotillodavid2 วันที่ผ่านมา
  • 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

    Zion ZawkoZion Zawko3 วันที่ผ่านมา
  • And the minimum wage in USA is ?

    benlovestorockbenlovestorock3 วันที่ผ่านมา
    • $7.25 an hour.

      Klobi for PresidentKlobi for President6 ชั่วโมงที่ผ่านมา
  • Got to know for a good future

    Pat WPat W3 วันที่ผ่านมา
  • It's not all about money it's about time in private jet tou can fly anytime you want

    ali rk 12345ali rk 123453 วันที่ผ่านมา
  • 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.

    Kevin McGushionKevin McGushion4 วันที่ผ่านมา
  • 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.

    Joe OmJoe Om4 วันที่ผ่านมา
  • 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

    Thomas WaltonThomas Walton4 วันที่ผ่านมา
  • Y ur voice deep??

    ADITYA SANTHOSHADITYA SANTHOSH4 วันที่ผ่านมา
  • The calculations on value for money are bullshit

    Felix MurithiFelix Murithi4 วันที่ผ่านมา
  • Hey Sam! I’ve got a vid request! Could you potentially do a video on airport emergency services? Great video, by the way!

    Hoyt BensonHoyt Benson4 วันที่ผ่านมา
  • 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.

    yaimavolyaimavol4 วันที่ผ่านมา
  • 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

    seeyouspacecowboy14seeyouspacecowboy144 วันที่ผ่านมา
  • time is money

    Owen BondarOwen Bondar4 วันที่ผ่านมา
  • Can you talk about economic disaster of AIRBUS A-380????

    marymarluismarymarluis5 วันที่ผ่านมา
    • marymarluis he’s made a similar video. Economies of big planes vs small planes

      ZK-APAZK-APA4 วันที่ผ่านมา
  • 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.

    Inyalabudbud PunjabbidaliwadInyalabudbud Punjabbidaliwad5 วันที่ผ่านมา
    • 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.

      ZK-APAZK-APA4 วันที่ผ่านมา
  • 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.

    Mayank BansalMayank Bansal5 วันที่ผ่านมา
  • 8:39 wonder what those two are talking about

    A-Bloke-Named-ChrisA-Bloke-Named-Chris7 วันที่ผ่านมา
  • 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.

    Joshua C.Joshua C.7 วันที่ผ่านมา
  • are you the same guy from "Half as Interesting"?

    chepe263chepe2638 วันที่ผ่านมา
  • In as simple terms as possible: time is money.

    MrSensitiveNipplesMrSensitiveNipples8 วันที่ผ่านมา
  • Wouldn’t it be cheaper to just drive from New York to Beijing? Psh stupid asses

    Are you SeriousAre you Serious9 วันที่ผ่านมา
  • 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.

    Waseem YusufWaseem Yusuf9 วันที่ผ่านมา
  • 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.

    Dnl kDnl k9 วันที่ผ่านมา
  • Your math is waaay off, dude.

    Robin EldredRobin Eldred9 วันที่ผ่านมา
  • celebrities use them the most

    Haroon khurramHaroon khurram10 วันที่ผ่านมา
  • I'm too poor to watch this video.

    NotmiuserNotmiuser11 วันที่ผ่านมา
  • Private jet is best because they steal all our money and change our countries!

    Blame USABlame USA11 วันที่ผ่านมา
  • OPPALENCE. YOU. OWN. EVERYTHAANG

    BASE KyleBASE Kyle11 วันที่ผ่านมา
  • I live in Bentonville, GO WALMART!

    Justin JonesJustin Jones12 วันที่ผ่านมา
  • I’ve been waiting on this

    Les GaslLes Gasl13 วันที่ผ่านมา
  • 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.

    William LauWilliam Lau13 วันที่ผ่านมา
  • 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.

    LucasBrienLucasBrien13 วันที่ผ่านมา
  • 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

    ExpatMoeExpatMoe13 วันที่ผ่านมา
  • "I keeps a private Jet!"

    SolamenteVeesSolamenteVees13 วันที่ผ่านมา
  • Private jets are also good for going to international waters and private islands with guests of all ages

    Rosa I GuessRosa I Guess13 วันที่ผ่านมา
  • By using Skype the travelling time would be 0.

    Anders BlomquistAnders Blomquist14 วันที่ผ่านมา
  • Aahaaa

    kamikaze GOD on firekamikaze GOD on fire14 วันที่ผ่านมา
  • Private jets keep people away from the MUSLIM JIHAAD!!!

    fladave99 Millsfladave99 Mills14 วันที่ผ่านมา
  • Why do you sound different?

    Groovy GamesGroovy Games14 วันที่ผ่านมา
  • Make a video about what happens if a baby is born on an airplane

    christian legaspichristian legaspi15 วันที่ผ่านมา
  • nowadays there is no need for flights - business can be done online remotely easily!

    RubikRubik15 วันที่ผ่านมา
  • PEASANTS.

    JakeJake15 วันที่ผ่านมา
  • Most people could do their business via email and Skype. No need to be there in person.

    Carl SendenCarl Senden15 วันที่ผ่านมา
  • I love the way they look personally

    Vadim PropeleyentevVadim Propeleyentev15 วันที่ผ่านมา
  • The execs don't care about how un-economic it is, they demand the opulence and status it signals. screw the shareholder.

    Stuart ConnerStuart Conner15 วันที่ผ่านมา
  • The taxpayer pays for those subsidies and tax write-offs or tax-dodging. All income is taxable do not listen to the narrative. Private jets are also rented out. Sometimes more than one person or group uses private jets together.

    SyncroScalesSyncroScales15 วันที่ผ่านมา
  • You didn't add in the value of an executive being in the office and available instead traveling. At the company I worked at with private jets, that value was more than the salary value of time saved.

    Steve SchutteSteve Schutte16 วันที่ผ่านมา
  • The wealthy minority and military are the biggest polluters and wasters of resources. Time to end them

    anti stuffanti stuff16 วันที่ผ่านมา
  • Even if these jets were powered with free energy from the subspace and filtered air during the flights, these these eco-commies would also hurt their ass because it hates industrious and entrepreneurial people. they have complexes that they did not learn and all want to get to their shit level. CO2 is a life-giving gas and not a poison you morons. Stop cutting forests and building your ecological wood huts and start thinking and supporting technical progress. You can live at a higher level and not destroy the environment, you only have to stop fighting science and technology.

    Dugie JonessDugie Joness16 วันที่ผ่านมา
  • All of this while millions of Walmart employees are barely above poverty line even after working 50+ hours per week. Bloody scumbags

    PegasausPegasaus16 วันที่ผ่านมา
  • Ceo's are not in business of making sense. Financial or otherwise. They spend shareholders' money with open heart.

    Wo LandWo Land16 วันที่ผ่านมา
  • Also buying a plane and renting it out and or buying in shares of a plane a sharing cost. Or get a membership in private jet.

    BLacKNesMonsTazBLacKNesMonsTaz17 วันที่ผ่านมา
  • 6:10 *WALMART MANAGERS MAKE +$110K ???*

    matt bardotmatt bardot17 วันที่ผ่านมา
  • A guy I went to school with flies these things every day. Seems like a pretty spectacular job especially if you get a lot of hires to the Caribbean etc. His Instagram is pretty good as a result.

    jcardboardjcardboard17 วันที่ผ่านมา
  • If they stopped the Private Jets, CEO’s wouldn’t work as hard. Therefore, that company’s gross revenue would likely decrease MORE than the money saved. Stop PJ’s = Less profits (mic drop)

    Bobby FisherBobby Fisher17 วันที่ผ่านมา
  • Ahh nooo! It was so good until you started talking about “carbon footprint”

    Connor WickhamConnor Wickham17 วันที่ผ่านมา
The Economics of Private Jets