Way back when I said that the airport security situation was bad enough that companies were going to increase teleconferencing and corporate jet use. Today, SEC documents confirm it. In fact, “Citigroup and CVS Corp. (Research), which both require their executives to use company transportation at all times — even for personal matters — also cited security concerns as reasons for allowing senior officers to use corporate transportation, the report said.”
These are not small operations. Citigroup is component of 5 different stock indices, including both the DJIA and the S&P 500. CVS is “only” a member of two indices. These are only two companies specifically mentioned as having such a policy. There may be others that were not cited.
There are multiple, large companies that do not want their executives using commercial aircraft for any reason. That’s fascinating.