“[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.”
Flexjet launches carbon-offset program
Flexjet, Bombardier's fractional ownership subsidiary, has announced a program that offers its shareowners the opportunity to offset carbon emissions each time they fly. Climate Care, an offset provider and a division of J.P. Morgan's environment markets group, has been selected as Flexjet's partner in the initiative. New and existing owners may join the voluntary program to offset carbon-dioxide emissions.
Participants will pay a per-hour fee sufficient to fund activities that generate an equal reduction in emissions. Funds derived from the fees are invested in Climate Care projects worldwide. As part of the program, Flexjet will offset all nonowner flights, including those for demonstration and maintenance purposes. The initiative is an extension of Bombardier's first carbon-offset venture, which the company launched in February 2008 for buyers of new business aircraft.