Results tagged “dassaultfalcon7x”

After the NY Post's outraged article on how CitiGroup was buying a $50 million corporate jet, politicians joined the chorus over how the banking giant is not really thinking straight. President Obama's press secretary Robert Gibbs said the president "doesn't believe [business jets are the] best use of money." Especially when CitiGroup is getting $45 billion in TARP funds, right?

Citigroup, which was bailed out by the government last fall to the tune of $45 billion, is continuing on with its purchase of a new, $50 million corporate jet, according to the Post, which calls it "JUST PLANE DESPICABLE." Sure, the banking giant announced it would cut up to 50,000 jobs and posted a staggering $8.29 billion loss last quarter, but executives need to get places faster, you know? But only up to 12 executives, because that's all the Dassault Falcon 7X seats. A source tells the Post that "It's not uncommon for large companies to pay a deposit on a new plane then cancel the order before delivery," so when the Post asked the head of CitiFlight about the 7X, he said, "Why should I help you when what you write will be used to the detriment of our company?" Citi trying to sell its older Dassault jets.