Finance: Former GE CEO Jeff Immelt used to have an empty private jet fly next to his — just in case there were delays (GE)

Former GE CEO Jeff Immelt used to have an empty private plane fly next to his in case one had mechanical issues, the Wall Street Journal reported.

When Jeff Immelt traveled, he wanted to take no chances of running late.

The former GE CEO used to have an empty private plane follow his own on trips, the Wall Street Journal's Thomas Gryta and Joann S. Lublin report in a story about the new CEO's cost cutting efforts. The extra jet was meant as a spare in case the primary plane suffered mechanical problems.

It's not exactly the most frugal or environmentally-friendly solution, which may be why crew members were told not to openly discuss the two planes, according to the report. They sometimes parked far away from each other to avoid raising eyebrows.

A GE representative confirmed to the WSJ that the jets were used on "limited occasions for business-critical or security purposes."

The news comes as current GE CEO John Flannery prepares to cut costs, including laying off thousands of employees.

Read the full WSJ report here.

Former GE CEO Jeff Immelt used to have an empty private plane fly next to his in case one had mechanical issues, the Wall Street Journal reported. Read Full Story