There sure has been a lot of thunder and lightning in the upper atmosphere above Washington over the use of corporate jets by companies, as well as a crack down on executive pay as politicians do bird strikes on excessive bonuses and benefits. General Aviation has had a tough go of it since the recession leading up to 911 and then things got progressively worse. Had it not been for companies like NetJet and others in the fractional jet and charter jet aircraft business, it most likely would have never recovered.
As things did get better on the corporate jet aircraft scene, the economy took the worst global hit since the depression, claim some financial analysts, and to make it worse, corporate jet aircraft and luxury cabin class aircraft took the brunt of anger of the masses, through the condemning of our politicians. Today, folks in Wichita Kansas are no longer building many corporate aircraft, and are beting laid off, as if that town needs anymore economic hardships.
But it is not only the corporate aircraft manufacturers in Wichita like Cessna, Hawker Beechcraft and others who've taken the hit, Gulfstream in South Carolina has too. In fact, Gulfstream is also cutting more production, this time Gulfstream is culling the production of Corporate Charter Jets; G150 and G200 Series.
This will cause another round of layoffs, at a time when South Carolina needs a break. If you are thinking about buying or leasing a corporate jet, now would be the best time. Prices are way down on both new and used aircraft. Personally, I never thought they'd go this low. Please think on this.