Analysis: Missed Opportunity
Corporations have been shedding their private aircraft since well before the three automakers made the idiotic decision to go to Washington, hats in hand, on their private jets. Unfortunately, the event has reignited the debate about corporate jet perks as being a luxury companies can no longer afford. Last... [read more]
Eclipse Files for Chapter 11
With between $100 million and $500 million in assets and more than a $1 billion in debt, Eclipse Aviation filed for Chapter 11 bankruptcy November 25 in U.S. Bankruptcy Court in Delaware. Simultaneous with its Chapter 11 filing, it announced the sale of its assets the assets of the long-troubled company to...
DayJet Bankruptcy: A Story of Brinksmanship
The decision to shut down DayJet operations on September 18 was coupled with a decision to put it into Chapter 7 liquidation rather than Chapter 11, according to court papers filed November 14 when the company officially declared bankruptcy. Chapter 11 would have required an immediate cash infusion which was...
BBD Continues Solid Results
Bombardier revenues jumped eight percent to reach $C4.6 billion in the third quarter ending October 31. Net income increased by $C154 million, reaching $C245 million, compared to $C91 million for the same period last fiscal year. Its cash position remains strong at $C3.3 billion, it said, after a negative...
Private Jet Travel, One Seat at a Time
CogoJets is offering a new online meeting place for travelers wanting to share the cost of a private jet flight by allowing passengers to purchase one seat at a time. Passengers can also fill empty seats on existing flights. The company promises a 90 percent savings over the cost of retail cost of private...
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