Home > Uncategorized > Corporate Jet Use – Business Insider

Corporate Jet Use – Business Insider

December 20, 2012 Leave a comment Go to comments

Using the company’s private jet is a big perk for some executives, but when it’s used solely for personal reasons, the privilege is abused.

Mark Maremont and Tom McGinty at The WSJ wrote about a particular scenario involving Robert Coury, the CEO of Mylan Inc., a generic drug maker, who used the company’s jets to launch his son’s music career.

Mark Maremont and Tom McGinty report:

“On July 3, 2010, for example, Tino Coury performed a late-night gig at a Cincinnati nightclub. At 3:18 a.m., the Mylan jet left Cincinnati for West Palm Beach, Fla., arriving there around 5 a.m. Later that day, Tino Coury performed at a July 4th concert in West Palm Beach.

The following week, Tino Coury performed near Hartford, Conn. Shortly afterward, the Mylan jet traveled from Hartford to Las Vegas, where he had his next performance. Based on the aircraft’s estimated hourly operating cost, the tab for the one-way flight was about $22,0000.”

The company’s jets rarely ever stopped in Los Angeles until Tino, who lives in the area, launched his music career in 2009. Between 2010 and 2011, the jets made at least 18 stops in the Los Angeles area

via Corporate Jet Use – Business Insider.

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