Corporate Jets For Sale, Sort Of

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.

See Also: Second-Hand Jet Market Booming As The Rich Unload
Knicks’s Stephon Marbury Going Ahead With $40 Million Jet Purchase



NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In

home-us planes