yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

The Jet Business CNBC Editorial January 2012


2m read
·Nov 3, 2024

Welcome to the world's very first corporate jet showroom. This Bondes setup has been specially designed, from the floor to ceiling video walls to the mockup Airbus interior, to lure in the very wealthiest of shoppers. People known in corporate jet pants as ultra high net worth individuals. The Jet Business, the company behind this extravagant showpiece, described this as a one-stop shop for anyone with enough cash to spend on a corporate jet.

Prospective buyers can browse through the hundreds of jets on offer, some costing up to $80 million, at the touch of a button. Blackout windows shield more privacy-conscious buyers from prying eyes. Jet Business founder Steve Verano says his Belg Gravier showroom is a game changer for the corporate jet industry.

"We think that a face-to-face contact is super, super important. We think that being able to have like an information library that you can display graphically on this huge video screen that you've seen is very important. So a lot of our clients, they think they know what's available out there, but really nobody really knows everything that's available."

For the small sum of $40 million, this is what you can get: a corporate jet capable of flying transatlantic flights. It's kitted out with all the mod cons; there's even a double bed in the back. But in these times of austerity, who actually has the money to spend on this?

"That's completely changed in the last 3 years. 70% of all orders are outside the U.S., with the big growth markets being China and the other BRIC economies. And rather than proving a pricey luxury, spending on a jet could actually give your business a lift. The days of corporate excess have gone, and I think now you have to be able to justify an economic benefit of using corporate business travel.

And I think that's been proven. If you look at the performance of the Fortune 500 companies, there is a correlation between the success of the Fortune 500 companies and those that own and operate business jets. But if you feel that a corporate jet is just what your business needs to take off, then hopefully you're not in a hurry. Bear in mind that the average time between placing an order and that first transatlantic cocktail is another 5 years."

More Articles

View All
Why were the Mongols so effective? | World History | Khan Academy
The question before us today is why were the Mongols so effective? How do they manage to take an area starting around here and over the course of 20 years, during the reign of Genghis Khan, from about 1206 to 1227, expand from this little part of Siberia,…
Life After Black Hawk Down | No Man Left Behind
I was the pilot in command of Super 64, which is one of the Blackhawks, and I was actually leading an element of aircraft. That means my responsibility is to fly, in this case, four aircraft into the target area and put troops on the ground. The mission i…
How New Technology Creates New Businesses
Like the only way to find these opportunities and learn about them is to find weirdos on the internet that are also into this thing. Yes, and they’re figuring it out too, and you can kind of compare notes. Yes, and this is how new industries are created—l…
We Need to Rethink Exercise (Updated Version)
Losing weight is hard, and unfortunately, your body is sabotaging you every step of the way. Your body is a biological machine that follows the laws of thermodynamics and needs energy and raw materials to stay alive, which is why you eat. The energy from …
10 Things I Stopped Buying | Financial Minimalism
What’s up you guys? It’s Graham here. So throughout my entire life, I’ve always made a conscious effort to evaluate my spending, cut back on what isn’t necessary, and focus on clearing out the clutter. But this year absolutely threw us all for a curveball…
Determinants of price elasticity of demand | APⓇ Microeconomics | Khan Academy
In other videos, we have already started talking about the price elasticity of demand, and what we’re going to do in this video is think about the factors that might drive the price elasticity of demand in a given market to be more or less elastic. So one…