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.