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US executives enjoy extra corporate jet perks under Covid
12 Apr, 2021 12:00 AM
3 minutes to read
Corporate spending on private jets increased 9 per cent over the past year. Photo / 123RF
Financial Times
By: Patrick Temple-West
Big US companies, including Morgan Stanley, Yum Brands and PepsiCo, expanded private jet privileges for top executives last year due to the Covid-19 pandemic, new regulatory filings show. Yum Brands gave its chief executive David Gibbs authority to approve personal travel on the company s jet for other executives, and Morgan Stanley authorised certain executives to use the company s aircraft for personal purposes.
Delivery company UPS gave Brian Newman, its chief financial officer, use of a private jet for personal reasons because of the pandemic but said the perk is not expected to be a regular practice .