Bank of America CEO Brian Moynihan is No. 1 in a ranking of U.S. chief executives whose use of corporate jets costs their companies the most.
Fortune magazine, citing data from research firm Equilar, reported the finding this week. Moynihan's corporate jet use was valued at $448,251 in fiscal 2013, which puts him among the five "most expensive CEOs to fly around," the magazine said.
Under an agreement with Bank of America, Moynihan reimburses the bank for non-business flights on the lender's corporate aircraft, the bank said in its 2014 proxy statement.
Bank of America spokesman Lawrence Grayson declined to comment on Equilar's ranking when I contacted him Wednesday.
For comparison's sake, Moynihan's corporate jet use was valued at $477,060 in fiscal 2012, according to a proxy statement.