US corporate spending on jet travel has jumped for the second year in a row, highlighting how companies continue to spend on flying perks they insisted were needed during the Covid-19 pandemic.
Jet spending for chief executives at S&P 500 companies increased to $41.3mn last year, up 22 per cent from the year before and the highest amount in at least 10 years, according to data from ISS Corporate Solutions.
Facebook’s parent company Meta spent the most among S&P 500 companies for a CEO’s personal air travel, reporting $2.3mn on private flights for Mark Zuckerberg. But that was dwarfed by the more than $4mn Meta spent for Sheryl Sandberg, who stepped down as chief operating officer last year.
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