» More Corporate Jets Go on the Market

More Corporate Jets Go on the Market

By Christina Bohnstengel

starbucksjet_blog

Following the downsizing trend that is hitting household and large corporate budgets alike, Starbucks hopes to unload their new Gulfstream 550, the corporate jet they bought last month for $45 million. In the world of private plans, orders are placed years in advance, and according to a company representative, canceling the order would not be a cost effective decision. Starbucks’ Gulfstream 550 is an 18-seat jet that won the Robert J. Collier award in 2003 and features interiors adorned in leather, cashmere, Australian walnut and satin nickel plating.

Though the corporate jet has only been used for 15 flights, it is estimated that it has already depreciated $15 million due to tough economic conditions, particularly in the private plane industry. Starbuck CFO, Troy Alstead, reported that the coffee company intends to shave $500 million off of its annual expenses this year by keeping only one of its three corporate jets.

Via Luxuo

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