wallydownundy

After the Detroit CEOs flew private jets to Washington DC, caps in hand, crying poor mouth, the beleaguered corporate jet industry can’t get a break. Cessna has launched a series of advertisements - “We think it’s time to tell the other side of the story”. And oddly I have to concur - to a degree.

Most companies use corporate jets for rapid point-to-point service for mid-level managers. The interiors have more in common with no frills airlines than luxury jets. They fly routinely from headquarters to distant plants in cities no longer serviced by direct flights. Ford had one such workhorse that went from Detroit to Memphis then Kansas City in a routine circle twice a day. There was no on-board catering or movies. It was traveled by engineers and product designers working on day-to-day tasks.

At times like this, the corporate jet is the workhorse of the sky.

But let me tell you about the show ponies. Ford Credit had one CEO particularly enamoured of private jets and Ford had a fleet of them. Each jet was kitted out with an interior evocative of each major brand. My staff were instructed to get the Aston-Martin jet every time. This long-range aircraft was first ordered ostensibly to fly to Asia non-stop from Detroit. Problem was the marble and leather interior weighed so much the plane needed to refuel mid-way through long haul flights. But it was nice inside.

The private jet terminal was small and comfortable and dedicated to Ford management. As soon as all passengers arrived the jet was boarded and cleared for take-off. When’s the last time your flight left five minutes after you got the airport?

In some instances the jet still made sense. Eight executives huddled together to plan the day’s activities then conducted long-distance business with stop-watch precision. But like any smart option the corporate jet was prone to abuse. Like the time an in-flight meeting was called on a direct flight to Orlando with the CEO’s family a few days prior to Christmas. Once the leader and his encourage were off the plane - and the hold was emptied of gifts - the meeting was cancelled and the plane flew back to Detroit.

Today sales of corporate jets have fallen off a cliff. Second-hand jets are available with “make an offer” listed on their web ad. I’d encourage you to gather some friends and bid as a consortium. A plane that commanded $48 million in boom times can now be had for $30 million. Imagine - where else in your life can you make an $18 million saving? At these prices why not buy two? It sure beats flying commercial…