Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Corporate Aircraft Usage By Executives Soars

Jaclyn Jaeger | July 10, 2007

Two words best describe aircraft usage by corporate C-suite executives: sky high.

According to a Compliance Week analysis of the perks offered by 250 large companies, personal use of corporate aircraft was the most common benefit, offered by 76.4 percent of the group.

The compensation research firm Equilar further reports that the number of Fortune 100 companies that offer their CEOs compensation for the personal use of corporate aircraft increased from 68.4 percent in 2005 to 78 percent in 2006.

For these executives, the median value of the aircraft benefit also increased 12.1 percent from $108,579 in 2005 to $121,676 in 2006. Alexander Cwirko-Godycki, research manager at Equilar, notes that some of the increase is likely a result of new Securities and Exchange regulations, which lower the disclosure threshold for executive perks and are forcing companies to report much higher costs for perks generally....

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.