Raphael Stevens

Demand for private-jet flights and last-minute bookings are up sharply in recent days, CEO of charter and fractional ownership company Flexjet told CNBC.
The increase comes as the Trump administration ordered airlines to cut hundreds of domestic flights as air traffic controller staffing issues snarl travel.
The FAA plans to curb private-jet traffic at 12 major U.S. airports starting Monday.

A FlexJet Gulfstream G450 airplane approaches San Diego International Airport for a landing on May 9, 2025 in San Diego, California.
Kevin Carter | Getty Images News | Getty Images

Demand for flights on private jets has been on the rise during the U.S. government shutdown as commercial air travel headaches have worsened, the CEO of private jet charter and fractional ownership company Flexjet told CNBC.
More than 17,000 U.S. commercial flights were delayed over the weekend, partly due to major staffing shortages at air traffic control facilities coast to coast, according to FlightAware. That was on top of several hundred preplanned cancellations after the Trump administration last week ordered U.S. commercial airlines to cut their schedules in 40 major U.S. airports by an initial 4%, with the potential to increase to as much as 10% by the end of the week, blaming strains on air traffic controllers.

The Senate made progress toward a potential deal to end the shutdown over the weekend and into Monday, but an agreement would still need approval by Congress.
Air traffic controllers are required to work during a shutdown, but like other essential employees have been working without their regular paychecks since it began on Oct. 1.
The disruptions sent travelers around the country scrambling for alternatives. Car rental company Hertz reported an increase in one-way rentals late last week.
Private-jet demand was already up over last year, but bookings have spiked in recent weeks, according to Flexjet.
In the first seven days of November, Flexjet’s fractional ownership and jet-leasing business posted a 42% increase in revenue hours over the same period last year, compared with an increase of about 20% so far this year, the company said.

“That means that our aircraft owners and lease holders are using their aircraft more. It spiked in October, and it’s continued to spike,” Flexjet global CEO Andrew Collins said in an interview Saturday. Flight hours last month were up 23% over last year, the company said.
Other major private jet providers didn’t immediately respond to requests for comment.
Flexjet’s charter business, FXAIR, saw a 56% jump in revenue hours last month compared with October 2024, while year-to-date they’re up 17% from last year.
Flexjet’s Sentient Jet unit, which sells cards starting at $174,375 for 25 hours on light business jets, has 24% more revenue hours booked for the rest of November compared with the same point last year.
Collins cautioned that it’s too early to draw a conclusion on the spike from the shutdown, but said he’s seen the company’s fractional aircraft leaseholders booking more last-minute, within 10-hour windows.
The Federal Aviation Administration on Monday plans to curb private-jet traffic at 12 major U.S. airports, the National Business Aviation Association said late Sunday.
The FAA’s original order last week didn’t require the private aviation sector to specifically cut flights the way commercial airlines were ordered to.
The NBAA has noted that business jets often use airports other than the country’s busiest.
“As business aviation routing is not fixed, it makes it possible to make use of reliever airports to not burden the major commercial hubs and get people where they desire to go from points still within proximity to their points of origin and destination,” Flexjet said in a statement.

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Kia on Monday previewed its next-generation Telluride SUV that the company is describing as a “new benchmark for the brand’s design and ambition.”
The Telluride has been a standout success for the South Korean car brand since it launched in 2019, at many times being one of the most highly in-demand vehicles in the U.S.
Kia said the 2027 Telluride, which is expected to arrive in U.S. showrooms during the first quarter, is larger, boxier and a more modern design overall compared with the current model.

2027 Kia Telluride

DETROIT – Kia on Monday previewed its next-generation Telluride SUV that the company is describing as a “new benchmark for the brand’s design and ambition.”
The first-generation Telluride has been a standout success for the South Korean car brand since it launched in 2019, at many times ranking as one of the most highly in-demand vehicles in the U.S., based on inventory levels. It’s a crucial vehicle for the company in the U.S.

Kia said the 2027 Telluride, which is expected to arrive in U.S. showrooms during the first quarter, has a larger, boxier and more modern design overall compared with the current model.
The new front end features a large front grille encompassed by vertical headlamps, while the rear of the vehicle features a sleek design and silhouette reminiscent of a Range Rover.

2027 Kia Telluride

The company on Monday released images of a Telluride X-Pro model ahead of the three-row midsize SUV’s official debut later this month at the Los Angeles Auto Show, where more trims and details of the vehicle will be released.
Sales of the Telluride have increased every year since its launch in 2019, with Kia selling more than 444,000 units in total, according to the company. The vehicle’s sales are up 11% year to date through October, according to Kia.
Kia offers the current Telluride in 10 trim levels, with starting pricing between $36,000 and $54,000.
A new version of the Hyundai Palisade, which is a sibling vehicle to the Kia Telluride, was released earlier this year and starts between $39,000 and $55,000, depending on trim. More

The Disney Destiny cruise ship will make its maiden voyage from Port Everglades in Fort Lauderdale, Florida, officially becoming the seventh ship in the company’s lineup.
Like Disney’s other cruise ships, the new vessel features themed dining, curated lounges and premium onboard live entertainment. The Destiny is all about heroes and villains.
Disney’s experiences segment was its second-highest revenue driver during fiscal year 2024.

Hero Minnie will appear on Disney’s newest cruise ship the Disney Destiny.

The Disney fleet is expanding yet again.
Later this month, the Disney Destiny cruise ship will make its maiden voyage from Port Everglades in Fort Lauderdale, Florida, officially becoming the seventh ship in the company’s lineup.

The Destiny, which is 221 feet tall and 1,119 feet long, can carry 4,000 passengers and 1,555 crew members. For its inaugural season, the ship will offer four- and five-night cruises to the Bahamas and Western Caribbean, including visits to one or both of the company’s island destinations, Disney Castaway Cay and Disney Lookout Cay at Lighthouse Point.
Like Disney’s other cruise ships, the new vessel features themed dining, curated lounges and premium on-board live entertainment. Disney’s portfolio of intellectual property has been the bedrock of its theme parks since the very first location opened its doors, and that’s translated to its cruise line as well.
The Destiny features a heroes and villains theme. Black Panther is the feature character within the Destiny’s Grand Hall, a prominent gathering space aboard the vessel, but guests will also be able to interact with iconic Disney villains and anti-heroes like Cruella de Vil, Maleficent, Dr. Facilier, Captain Jack Sparrow and Loki.

The Grand Hall of the Disney Destiny features an homage to Marvel’s “Black Panther,” including a statue of the hero.

The Destiny sets sail at a time of rapid growth at the Walt Disney Company’s experiences division, which includes its theme parks, resorts and cruise line. The company, which hadn’t launched a new ship in a decade prior to the Disney Wish’s debut in mid-2022, added the Disney Treasure last year and is set to have 13 vessels sailing by 2031.
“We’re undergoing the largest expansion in our history,” Josh D’Amaro, chairman of Disney experiences, told CNBC. “The Destiny, I think, is just going to be another example of how we continue again to push the envelope on what a cruise experience can be.”

In fiscal 2024, the experiences division posted record revenue and profit, with revenue up 5% for the full year to $34.15 billion and operating income up 4% to $9.27 billion. As of the fiscal third-quarter of 2025, Disney anticipated the experiences segment would see 8% growth in operating income for the current fiscal year. The company reports earnings Thursday.
The experiences segment was the second-highest revenue driver for Disney last year behind its entertainment division, which tallied $41.19 billion in fiscal 2024. However, the entertainment segment’s operating profits were smaller, at just $3.92 billion.
Disney has become a leader in the family cruising space, despite its relatively small number of ships. Its fleet size of just seven ships is dwarfed by the largest cruise lines: Carnival, with more than 100 vessels; Royal Caribbean, with nearly 70; and Norwegian Cruise Line, with more than 30.
Disney is considered slightly more expensive than Carnival and Royal Caribbean for base pricing, but if guests choose to upgrade to larger cabins or add food packages or experiences to their itineraries on the major cruise lines, the prices can be similar.

Each stateroom aboard the Disney Destiny will showcase custom artwork depicting the epic journeys of famous Disney legends.

Disney’s Destiny offers four-night cruises starting at around $2,300 for two adult guests and about $4,000 for a family of four. Five-night cruises start at $2,900 for two adults and $4,700 for a family of four. These prices can increase if travelers select premium rooms or book cruises tied to Halloween or Christmas or for select seven-night cruises aboard the Destiny.

Immersive, character-fueled dining

Like other cruise ships in the space, the Disney Destiny features upscale restaurants, pools, spas and gaming rooms for kids, but the company injects storytelling into the mix.
Additionally, Disney accommodates diners using “rotational dining” on its cruise ships. Passengers don’t eat in one large mess hall — they are prescheduled to dine at different themed restaurants. Disney rotates the restaurant staff, too, to follow each group of passengers to their scheduled restaurant. As a result, guests have the same servers, busboys and restaurant managers throughout their trip, and the waitstaff gets to know the guests — and their preferences.
Among the themed dining halls aboard Destiny is Pride Lands, a feast of the Lion King, which invites guests to dine on a menu with authentic African flavors while live musicians take the stage to present a retelling of Simba’s story from cub to king.

Pride Lands: Feast of The Lion King is a “Lion King”-themed dining experience featuring live musical performances and an African-inspired menu.

At Worlds of Marvel, families will listen to a mix of hit songs and test their superhero knowledge while they eat. Rocket and Groot from “Guardians of the Galaxy” will be featured in an onscreen story that will unfold during the meal. The menu features nods to in-universe locations like Wakanda and the fictional Eastern European nation of Sokovia as well as New York, the home base of the Avengers.
A 1923 dining hall, named for the founding year of the Walt Disney Company, celebrates the legacy of Disney’s animation. This setting features more than 1,000 drawings, props and other tools of the animation trade, including artwork from “Hercules,” “Sleeping Beauty,” “Big Hero 6” and “Wreck-It Ralph.” The menu at 1923 is inspired by the fusion of cultural flavors found throughout California, including Asian, European and South American influences.
Guests looking for quick meals and snacks will have a number of other dining options including Cafe Megara and Cafe Merida as well as Edna Á La Mode Sweets, a confectionary with gelato, ice cream, cookies, candies and other specialty treats based on super-suit designer Edna Mode from “The Incredibles.”

Kid-friendly experiences

For many, Disney cruises are a family affair. So, the company has dedicated spaces for every age group. 
It’s a Small World nursery offers babysitting services for children ages 6 months to 3 years, while older children can head over to Disney’s Oceaneer Club, which features several immersive spaces themed to Marvel’s superheroes, Disney’s princesses, Star Wars and Mickey and Minnie Mouse.
There’s a two-story venue called Saga that plays host to interactive shows and events like “Match Your Mate” and “Family Time Game Show,” as well as Edge, a space for tweens to make friends and play games, and Vibe for those aged between 14 and 17 to watch movies, listen to music and hang out.
The Walt Disney Theatre will be the home to a Broadway-style production of “Hercules,” a show that features innovative puppetry and state-of-the-art effects.

Guests aboard the Disney Destiny will be able to see a Broadway-style production of “Hercules” featuring innovative puppetry and special effects.

Each cruise will also include live performances of “Frozen, a Musical Spectacular” and “Disney Seas the Adventure.” There will also be Pirates Rockin’ Parlay Party, a nighttime spectacular featuring a live rock band and fireworks, an “Incredibles” themed sports area and all-you-can-watch complimentary movie screenings at Wonderland and Never Land Cinemas.
Similar to the Wish and the Treasure, the Destiny also has a Toy Story-themed area that includes a splash pool, wading pool and family waterslide. There’s also an adapted version of the AquaMouse water coaster called “Sing a Silly Song.”

Adult-friendly fare

Disney has also designed locations that are just for adults.
Quiet Cove is sequestered away from the bustling family activities and features an infinity pool, a poolside bar and a cafe. Senses Spa offers spa and beauty treatments, while Senses Fitness is an exercise and wellness facility.
The Disney Destiny also features De Vil’s piano lounge, a lavish locale for trendy cocktails, and the Sanctum, a lounge that takes inspiration from Doctor Strange from the Marvel universe.

The Sanctum is a lounge for the Disney Destiny’s adult guests. It is inspired by Marvel’s Doctor Strange.

“We’re continuing to take intellectual property or franchises, not just from the big screen, but from our theme parks as well,” D’Amaro said. “We did that with ‘Haunted Mansion’ on our last ship, and ‘Haunted Mansion’ will be back on the Destiny this time, as well. But, you’ll also see a ‘Pirates of the Caribbean’ lounge, for example, which is just gorgeous, and I think our guests are going to respond exceptionally well to it.”
This is the second time that Disney has brought its theme park IP to its cruise line. The Haunted Mansion Parlor debuted on the Disney Treasure last year, and a similar lounge area, featuring ghostly design elements and spooky cocktails, will be on board the Destiny.
There’s also Cask & Cannon, which is the eclectic but cozy pub inspired by “Pirates of the Caribbean” attraction. This is the first time “Pirates of the Caribbean” has been brought aboard a Disney ship in this capacity. The destination will feature themed drinks and decor.

Loose Cannons, a drink available on the Disney Destiny at the “Pirates of the Caribbean”-inspired pub Cask & Cannon.

More on the horizon

The Disney Destiny’s launch will be quickly followed up by the maiden voyage of the Disney Adventure, which will service Singapore starting in March 2026. Additional ships will launch between 2027 and 2031, bringing the Disney cruise fleet to 13 vessels.
“From a business perspective, the Disney cruise line is very important, not only to the Disney experiences segment, but to the Walt Disney Company,” D’Amaro said. “This is a huge brand ambassador for us. So, the ability to take all of the stories that we have to tell and bring them around the world with an asset that moves is very, very powerful for us.”
D’Amaro noted that the segment has seen double-digit returns on its cruise ships and continues to generate high occupancy and strong future bookings.

The exterior of Disney’s newest cruise ship the Disney Destiny.

But, Disney’s cruise line isn’t the only piece of the company’s experiences business that is expanding. There are construction plans across the globe for Disney’s theme parks and resorts.
“We are in the middle of turbocharging the Disney experiences segment of the Walt Disney Company,” D’Amaro said. “So, it’s a really special time for this part of the business. We have more projects underway right now than we have ever had in the history of the company.”
The Walt Disney World Resort in Orlando, Florida, is seeing its largest expansion ever at Magic Kingdom with the addition of a villains-themed land and a “Cars” area being added in Frontierland. A “Monsters Inc.” land is coming to Hollywood Studios and the Rock ‘n’ Roller Coaster is being rethemed to feature “The Muppets.” At Animal Kingdom, the company is adding an “Encanto” and an “Indiana Jones” attraction.
On the West Coast at Disneyland Resort in Anaheim, California, Avengers Campus at the California Adventure Park will be expanded to include two more rides. The company is also adding an “Avatar” area and its first ever “Coco” attraction.
Internationally, the company is set to break ground on its seventh theme park resort in Abu Dhabi. Disneyland Paris, Hong Kong Disneyland, Shanghai Disneyland and Tokyo Disney are all getting new attractions based on popular IP.
“We have so many more stories to tell, and it’s happening all over the world,” D’Amaro said. “Every single one of our destinations is undergoing a significant transformation, adding new capacity, adding new stories, adding new ports.” More

Restaurant Brands International will form a joint venture with a Chinese alternative asset manager to run Burger King China.
Under the terms of the deal, CPE will own roughly 83% of Burger King China.
Over the next decade, the joint venture aims to more than double the burger chain’s footprint in the market.

People walk past a Burger King restaurant with Chinese national flags displayed on a street during the National Day Golden Week holiday on October 5, 2024, in Chongqing, China.
Cheng Xin | Getty Images

Restaurant Brands International on Monday announced that it will form a joint venture with CPE, a Chinese alternative asset manager, to run Burger King’s restaurants in China.
Earlier this year, a subsidiary of Restaurant Brands acquired its equity interests from its previous Burger King China partners, Turkish-based operator TFI and U.S.-based private equity firm Cartesian Capital, for roughly $158 million in cash. At the time, the company said it planned to find a local operator as a partner.

Under the terms of the deal, CPE will own roughly 83% of Burger King China. Restaurant Brands will hold a minority stake of about 17%, along with a seat on the board of directors.
When the deal closes, CPE plans to invest $350 million into the joint venture. That investment will go toward a number of areas, from marketing to menu innovation, as well as restaurant expansion. Over the next decade, the joint venture aims to more than double the burger chain’s footprint in the market, from about 1,250 locations today to more than 4,000 by 2035.
“CPE is a well-capitalized, proven operator with exceptional leadership and extensive consumer and restaurant experience, making them an ideal partner to fuel the next chapter of Burger King China’s growth,” Restaurant Brands CEO Josh Kobza said in a statement.
The deal is expected to close in the first quarter of 2026, pending regulatory approval.
For decades, China’s massive population and fast-growing economy have made it an attractive market for U.S. companies, including restaurant chains. But in recent years, an economic slowdown have made some companies rethink their strategies. A week ago, Starbucks announced plans to form its own joint venture for its China business with Boyu Capital, a local alternative asset management firm. More

Only a third of millionaires use a wealth advisor for their financial planning and 1 in 5 plan to fire their advisor due to high costs and poor service, according to a new survey from Long Angle.
By contrast, millionaires are highly satisfied with their personal trainers, therapists and other professionals who help with their overall wellness and family care.
The results highlight the growing importance of so-called “soft services” for the wealthy, as wealth managers, private banks and other firms look to attract and retain more high-net-worth clients.

Cg Tan | E+ | Getty Images

Millionaires are increasingly dissatisfied with their wealth managers and accountants, but they prize their personal trainers and therapists, according to a new survey.
Only a third of millionaires use a wealth advisor for their financial planning and 1 in 5 plan to fire their advisor due to high costs and poor service, according to a new survey from Long Angle, the professional network for startup founders and CEOs. Among those who do use an advisor, 26% are considering switching and 18% may stop using an advisor altogether.

By contrast, millionaires are highly satisfied with their personal trainers, therapists and other professionals who help with their overall wellness and family care, rather than financial issues.
“Improving your balance sheet or bank account doesn’t deliver the same emotional value as improving your health and family life,” said Chris Bendtsen, market intelligence lead at Long Angle. “Services for personal well-being or your children score the highest.”
The results highlight the growing importance of so-called “soft services” for the wealthy, as wealth managers, private banks and other firms look to attract and retain more high-net-worth clients. Once considered superficial next to financial advice and tax planning, services for health and wellness, family and kids, and travel and self-improvement are becoming core competencies in the business of advising and helping wealthy families.

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For the study, Long Angle surveyed 114 people worth at least $2 million, with a majority having net worths of between $5 million and $25 million. It asked them to rank their satisfaction levels on 14 of the most common professional services used by the wealthy, from investment advice and estate planning to sports coaching and housekeeping.
Personal services, child care and education ranked at the top for satisfaction. Out of a score of 1 to 10, millionaires surveyed gave their personal trainers an average score of 9.3, the highest satisfaction for any category of service. They were also happy with their investment-visa advisors (8.8), followed by their personal sports coach and therapist. They also placed high values on services for their kids, including private school (8.3) and day care (8.2).

Financial, home and property services ranked at the bottom. The results for wealth management are especially notable. The satisfaction levels for wealth advisors was 7.2, with most of the respondents saying they don’t even use an advisor. The use of financial managers increases with wealth. Among those with $5 million or less in wealth, only 22% use an advisor, compared with 44% for those with $25 million or more.
Their chief complaint is cost. The median spending for financial advisors is $10,000 a year, according to the survey. A majority of respondents pay a fee based on a percentage of assets under management. A third of respondents pay a flat annual fee.
Many clients increasingly see asset-based fees as inherently lopsided, since the manager gets paid more simply as a function of asset size rather than performance or service quality. The frustration over costs is one reason more advisors are moving to flat fees.
“Flat fee structures reflect a growing client preference for transparent pricing and reduced conflicts of interest,” the report said.
Beyond cost, wealthy investors are also frustrated with service.
“The general feedback is that advisors are often slow to respond and the advice is not personalized,” Bendtsen said.
Accountants and tax lawyers didn’t fare much better. While 82% of respondents use a CPA or tax professional for their taxes, 42% are considering switching tax advisors. Their main complaints were that CPAs were slow to respond and weren’t proactive or strategic enough.
On estate planning, half of millionaires surveyed don’t use an estate lawyer, although their use is highly dependent on wealth levels. Among those with $25 million or more, 69% use an estate lawyer. When it comes to satisfaction levels, estate attorneys ranked below pool services.
The poor grades for financial and legal providers, and high marks for more personal services, go beyond the predictable emotional benefits of feeling and looking better every day. Athletic trainers, sports coaches, teachers and even housecleaners seem to be better at providing the kind of highly customized, goals-driven help that the wealthy are looking for, rather than cookie-cutter solutions commonly provided by wealth managers and lawyers.
“What we heard is that the wealth managers, estate lawyers and CPAs feel more transactional,” Bendtsen said. “They don’t feel personalized.”
Services for children also get high marks and a high share of the wealthy’s spending. The respondents spend an average of $53,558 a year on their nanny, $30,000 a year on private school and $20,000 a year on day care. Private school and day care both scored above an eight on satisfaction despite the price.
Therapy is becoming increasingly important to the wealthy, especially the younger rich. Millionaires gave their therapists an average high score of 8.3. Their median spending on therapy is $5,000 a year.
Nearly half (43%) of millionaires under the age of 40 use a therapist, compared to only 13% for millionaires over 50. Among those who use a therapist, the main benefits cited were quality of care and impact, as well as kindness and having a personal connection.
“I think people under 40 are more proactive about their mental health and emotional well being,” Bendtsen said. More