» Luxury is the Last to Go

Luxury is the Last to Go

By Christina Bohnstengel

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Times may be tough for the average American in 2009, but for high-powered banking execs at Citigroup, plush luxuries have yet to be cut from the budgets.

Recent reports indicate that the banking giant has no intentions of scrapping their plans to purchase a $50 million corporate jet, the Dassault Falcon 7X, despite cries of unfairness from the taxpayers who could be footing the bill due to the government-approved bail out plan.

The luxury jet, made in France, includes all the amenities commonly associated with private planes: a plush leather sofa and oversized seats, bar and entertainment center, and according to the company’s website, it can “fly faster, farther and higher than any Falcon we have ever built.”

As one of only nine models in the U.S., the Dassault Falcon 7X will be a welcomed addition to CitiFlight’s Gulf Sierra fleet, housed in their White Plains private hangar. Other models in the fleet include two Dassault 900EX’s, worth approximately $27 million each. Citigroup is reportedly hoping to unload both of those 10-year-old planes.

Via New York Post

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