For example, BellSouth Corp. uses its jets extensively for trips to 11 different Latin American countries, and Atlanta's Russell Corp. often flies its two jets to factories in Mexico and Honduras. Particularly for overseas trips, private jets provide extra security for executives, say company officials. Despite feeling more secure on private jets, executives are 225 times more likely to be killed in a plane crash. The fatal accident rate for noncommercial aircraft was 1.35 per 100,000 flight hours, compared to a rate of 0.006 per 100,000 flight hours for commercial aircraft, according to a 1999 report from the National Transportation Safety Board. Because of the tight security surrounding private jets, companies are often hush-hush about their aircraft.
Some companies even register their jets under completely different names for security reasons.
An initial search through FAA data for jets owned by Home Depot revealed nothing, although it is possible to determine that the company owns five private jets and has them registered under a different name. Further, some shareholders aren't pleased when the lines are blurred between business and pleasure. Some Fortune 500 companies let executives use company jets for personal trips and vacations. Owning a private jet is no longer solely the perk of companies with millions of dollars to spend. Fractional ownership programs are joint ownership systems for jets that allow small or midsized companies to buy a percentage of an aircraft with other companies to defray the costs.