“Time is our most precious commodity, and there are conveniences that wealth brings to essentially get you more time. —retired Microsoft CEO Steve Ballmer, explaining why he commutes via private jet from his Seattle home to watch games of the Los Angeles Clippers, the basketball team he bought last year for $2 billion. ”
Jet Republic Backs Out of Giant Learjet Deal
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.