AIG has sold two of its luxury corporate jets in the last two months and cancelled delivery on two aircraft, accroding to ABC News. AIG has received around $180 billion in taxpayer bailout funds, so it’s not clear why they can’t afford the planes.
“As part of a comprehensive expense reduction plan, AIG has dramatically reduced aeroplane usage and sold several aircraft,” said AIG spokesperson Joe Norton.
Question: is AIG hoarding TARP money by refusing to spend on major purchases? It’s not a bank, so it can’t be required to lend. The only way it can help “main street” is by spending, right?
Fortunately, AIG’s refusal to spend money in this case probably won’t cost hard working Americans jobs. The planes were made by the family owned French aircraft maker, Dassault Aviation. And those French people can always eat cake or something.
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