XO jet CEO on CNBC

[F/O]

Another failed ex-airline CEO who can't manage his way out of a paper bag. Brace yourselves for more furloughs....

 

[hawkerflyer]

The only flying I see the CEO's doing for business is going to Washington looking for their bailout money.

That statement is simply ignorant. There are countless examples of corporate flight departments, large and small, that use their aircraft strictly for business, my employer included. In 2000 hours of flying over 4 and a half years, the number of non-business related trips can be counted on the fingers of one hand. Increased IRS scrutiny is nothing new and our chairman reimbursed the company for all of that flying. The example of the FNT to PIT trip is a perfect example and justification of using corporate aviation.

 

[gret]

That statement is simply ignorant. There are countless examples of corporate flight departments, large and small, that use their aircraft strictly for business, my employer included. In 2000 hours of flying over 4 and a half years, the number of non-business related trips can be counted on the fingers of one hand. Increased IRS scrutiny is nothing new and our chairman reimbursed the company for all of that flying. The example of the FNT to PIT trip is a perfect example and justification of using corporate aviation.

Are you flying Part 91 or Part 135? If Part 91, how can the Chairman pay for the flights legally under the FARs? Time sharing agreement?

 

[hawkerflyer]

Are you flying Part 91 or Part 135? If Part 91, how can the Chairman pay for the flights legally under the FARs? Time sharing agreement?

Part 91. The chairman is the only shareholder of the holding company that owns the aircraft. He reimburses expenses in order to satisfy IRS oversight and tax obligations.

 

[gret]

Be careful. I've been told you can't do these type of payments under Part 91.

 

[DAS at 10/250]

I think its funny that all the planes in the first half are all QS's...

That footage is from a History Channel documentary that primarily featured EJA and RTS. It was probably the first google hit and they ran with it.