Ever wonder how much
companies spend shuttling CEOs around on private jets? In the case of
General Dynamics Corp., it was $264,517 during 2012.
If that
seems like a bargain, it is. General Dynamics has a distinct advantage
over some other companies: easy access to airplanes, because subsidiary
Gulfstream Aerospace Corp. manufactures them.
Personal use of
company aircraft is solely for the chairman and CEO, which was Jay
Johnson in 2012, according to a filing with the Securities and Exchange
Commission.
Use of the aircraft was necessary “to help ensure Mr.
Johnson’s security and accessibility,” according to the filing. The
$264,517 cost went toward fuel costs, trip-related maintenance expenses,
landing fees, trip-related hangar and parking fees, onboard catering
expenses and crew expenses.
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