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Friday, 10 July 2009 12:39
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Business jet market faces slow recovery

  • Reuters, Thursday July 2 2009
  • By Karen Jacobs

 

ATLANTA, July 2 (Reuters) - The business jet market, which soared in recent years as U.S. companies posted record profits and new foreign buyers raised demand, is now facing a hard landing.

 

The sector could be poised for big drops in demand as corporations cut back discretionary spending during the recession and dried-up credit makes purchases by smaller companies and individual owners more difficult. Attacks from politicians who have portrayed business jets as extravagant and frivolous have also hurt.

 

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Last Updated on Friday, 10 July 2009 13:30  

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