After the Big Three bosses came grovelling to Congress by way of their private planes, beleagured companies rushed to unload their own jets to avoid a similar PR mishap. According to UBS, the number of used business jets for sale rose 62% in November, compared to a year ago. But they might not all be priced to sell.
The Economist: But not all companies that have put their jets up for sale are cash-strapped. And according to analysts at JPMorgan, asking prices for used jets actually rose by 3.4% in the year to November. Jonathan Breeze, chief executive of Jet Republic, a private-jet operator, suggests that some announcements that firms are selling their jets are “elaborate window dressing”. By putting jets up for sale at a high price that ensures nobody will buy, companies can appear frugal—even as their bosses continue to fly as usual.
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