U.S. corporate spending on private jets for personal use by chief executives and chairs hit the highest level for a decade last year.

The Financial Times (FT) reports spending by U.S. companies on private jets for personal use by chief executives and chairs hit the highest level for a decade last year as many businesses relaxed restrictions on using them because of the coronavirus pandemic.

Spending on airborne luxury rose 35 percent to $33.8mn among S&P 500 groups in 2021 — the highest since 2012, according to ISS Corporate Solutions, a division of investment adviser Institutional Shareholder Services.

The FT story relates the average amount spent on chief executives and chairs for private jet use jumped 36 percent to $170,660 last year, with the increased spending boosting private jet operators such as New York-based Wheels Up and Jettly.

The move to private jet travel does not look like it will end anytime soon.