Saturday, 15 August 2009

Tough times continue for business jet employees

There may be some talk of green shoots, but even if they are real they'll be of little comfort to many working in the jet world, particularly if they are involved in building them!

Hawker Beechcraft last week sent out letters to employees warning of further significant job cuts.

I hear that Wichita is the world's biggest parking lot for unsold jets right now. A year or two ago people were prepared to pay a premium for positions near the head of the delivery queue, and sales people wouldn't negotiate, now all you need is a pocket full of dollars to do some spectacular deals at your local Business Jet store.

NetJets, the world's leading fractional ownership company, is restructuring after Chairman and CEO of 25 years Richard T Santulli resigned with immediate effect. The company lost $350m in the first half of 2009 following an 81% drop in aircraft sales and a 22% drop in revenue hours.

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