Private jet market continues nosedive

12/26/2008 | NYTimes.com

The trend away from corporate jets is picking up steam, with some experts saying the market is the worst ever. GM, Citibank, Time Warner and Alcatel-Lucent have all reduced or eliminated their fleets, and new buyers are backing out from Russia to Dubai. Brokers say the kind of large-cabin, long-range aircraft built by Gulfstream, Bombardier and Falcon are suffering more than other market segments, though everything from charters to fractional ownership appears to be hurting.

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