Jet Republic Backs Out of Giant Learjet Deal

Business Jet Traveler » October 2009
Thursday, October 1, 2009 - 5:00am

Startup private jet provider Jet Republic, which planned to launch a fractional share business in Europe, suspended operations at its Portuguese subsidiary in August. As a result, Bombardier announced the cancellation of the order Jet Republic placed last year for 25 Learjet 60XRs, worth $340 million, as well as options for another 85 of the midsize twinjets. Bombardier said it remains committed to the Learjet 60XR program and insists it will not alter its production plans.

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Quote/Unquote

“Ride-sharing, in the old days, was everyone hopping in the VW bus to see [the Grateful Dead’s] Jerry [Garcia]. Now it’s about getting a seat on a King Air 350i ”

-Kenny Dichter, CEO of private jet company Wheels Up, who is lining up airplanes to transport fans to three Grateful Dead farewell show in Chicago.