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‘Stop, stop, stop’: Air traffic control intervenes to avoid plane collision at LAX
(www.independent.co.uk)
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Universities have private planes to transport their basketball players? wtf?
Why do you think tuition keeps going up
It's probably cost effective to lease a plane for that many people. Plus you're not at the whim of airline delays or cancelations.
I doubt they own a plane. They may be part of a co-op/time-share kind of arrangement. Or they may just hire a private plane as needed.
Edit: though I completely agree with your criticism of tuition, explosive costs, etc. There are more people in university administration than students today, not including faculty, just administration.
private planes are often chartered to others like taxis, earning the owners extra while also being available to them as needed.