I can't imagine flying a 747 for 10-12 hours (from the UK to Brazil), getting off, doing a 3 hour concert, then getting back on the plane and flying to your next gig. Even with a day or two off, that's an insanely hard schedule.
Props to him though, like you said, he claims the band saved a ton of money doing it that way.
...not to mention borderline illegal. Yes on long haul flights the pilots can and do sleep, but God hope nothing ever happens.
If memory serves me correctly, I think PPL allows you to fly aircraft up to 5700Kg MTOW. Even one of the 747 engines might bust that limit. :)
Here some related discussion:
https://www.pprune.org/jet-blast/266790-john-travolta-his-70...
https://answers.yahoo.com/question/index?qid=20091129142010A...