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Rich and Not-So-Rich Feel Private Jet Industry’s Tailspin

December 26, 2008 | Posted in: Airline News

Remember how the automakers were roundly criticized for going to Washington to plead for a bailout — in their private jets?

Well, they’re getting rid of those fleets — which is not good news for the private jetmakers. Especially since now, everyone (or many corporations, anyway) seem to be ditching “personal aircraft” — which makes sense, especially if you have to lay people off.

But every action ripples somewhere else in the economy, and it’s the many people who make private jets or work in that industry that are facing tough times now (like so many others). Here is the money quote from a New York Times article on the subject from the CEO of Netjets, a private jet company:

“The jet market stinks,” said Richard Santulli. I guess that says it all.

One Response to “Rich and Not-So-Rich Feel Private Jet Industry’s Tailspin”

  1. Doug Swalen says:

    Totally off topic but a post Christmas airfare war broke out for Hawaii today and even United fell in line on this one. SFO to LIH for only $400 roundtrip. SFO to Maui dropped as well. Throw in the fact that SFO to HNL was already on sale and it’s a great time to go to Hawaii! Unfortunatley I’m already commited to go to Palau in April otherwise I’d be all over it…

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