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US executives enjoy extra corporate jet perks under Covid
Leading US companies such as Morgan Stanley, Yum! Brands and PepsiCo expanded their executives’ private jet privileges last year with a Covid-19 pandemic and a new regulatory submission show.
Yum! Brands authorizes CEO David Gibbs to approve private travel on the company’s jets for other executives, and Morgan Stanley personalizes the company’s aircraft to certain executives. Allowed to be used for various purposes.
Due to the pandemic, the shipping company UPS allowed Chief Financial Officer Brian Newman to use the private jet for personal reasons, but said the perk was “unusual.”
Starting with a pandemic, PepsiCo’s CEO Ramon Laguarta’s personal travel costs doubled in 2020 from the previous year.
Petit maker Sealed Air has allowed executives to use private jets, including moving between North Carolina’s headquarters and where “the executive’s family was protected in place.” The policy stopped at the end of 2020.
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US executives enjoy extra corporate jet perks under Covid - California News Times
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