The NBAA has stated that CNBC’s recent analysis of business aviation was misleading, in a statement criticizing the look by the leading national broadcaster.
NBAA stated: “Your March 26 story, “Here’s why the ultra-rich splash out on private jet travel,” offered a very incomplete, and therefore very misleading narrative about business aviation, which looked right past the host of good reasons why entrepreneurs and companies, most of which are small and mid-size businesses, rely on an airplane to compete and succeed, especially in today’s highly competitive global marketplace.
Our organization has commissioned many, independent, data-based studies and surveys (none of which has been covered by CNBC) putting forth the facts in this matter, and detailing how an airplane is a key competitive asset, like a laptop, smartphone or other business tool.
The studies explain what your article did not: a business airplane is like an office in the sky – while aboard, employees work collaboratively enroute to a destination, productively, without fear of corporate espionage, and often in contact with headquarters on the ground. Workers efficiently reach multiple cities, even in a single day, with a scheduling flexibility that allows them to be nimble if unexpected opportunities arise.
They compete for business from small towns with little or no airline service, against rivals in larger, metropolitan areas. Perhaps most importantly, they are able to meet face-to-face with employees, customers and clients at moments when it matters most.In fact, these same studies conclude that companies using business aviation outperform comparable companies not using business aviation in revenue growth, profit growth, asset efficiency and shareholder value, among other respected performance measurements.
These same companies are routinely included in lists of businesses considered most innovative, most admired, best brands, best places to work and strongest in corporate governance and philosophy.Simply put, the overriding reason businesspeople choose to use an aircraft to help meet their transportation needs is that it’s a good business decision, and the sign of a well-managed enterprise. It’s unfortunate that your story’s inadequate analysis led readers to believe otherwise.”