Trip-protection insurance is popular with airline passengers who worry that a change in plans could mean forfeiture of airfare, prepaid accommodations and other upfront travel costs. Many air charter customers could benefit even more from such coverage, due to the amount of money at stake. Charter operators typically assess cancellation penalties that escalate as departure times approach. Also, while “empty legs” are often offered at a steep discount, they are usually sold with a 100 percent cancellation penalty.
The latest generation of “little Lears” represents a big departure from what Bill Lear envisioned when he started his iconic company 50 years ago. The original Learjet 23 forced passengers to trade comfort for speed in a cramped cabin with few amenities and limited range. My, how times have changed. Modern Learjets maintain the signature raked windshield and nose shape of their progenitors, but virtually everything else about these airplanes is different.
Having emerged battered and bruised from the 2008 recession, aircraft lenders face fresh challenges. While worldwide economic woes linger like a bad cold that won’t go away, these lenders can expect accounting and regulatory changes that may have a significant impact on their business.
When he launched his FUBU clothing line in 1992, Daymond John was a 23-year-old waiter and taxi driver with no college education, no business training, no manufacturing operation, no contracts with retailers and no money to speak of.
Historically, Vietnam’s scenic central coast has been the seat of kings, emperors, exalted colonial administrators and heroes from both sides of the country’s long war. Anchored by the fast-developing city of Da Nang at its center and incorporating the ancient feudal capital Hue to the north and Hoi An to the south, the region is fast becoming as famous for its sun, sand and sea as for its unique history, with a little help from the biggest brands in luxury hospitality.
Once upon a time, the vast majority of business jets were owned and operated in the U.S., but that’s changing. Residents of other countries represent an ever-growing segment of the market, and the business of buying and selling corporate jets is increasingly international. In fact, a majority of factory-new aircraft these days are delivered outside the U.S.
“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”