Starbucks is trying to sell the $45 million corporate jet it bought last month.
Starbucks’ new jet - a Gulfstream 550 - has made only 15 flights, according to Avpro’s online sales pitch.
Several of those landings were in Honolulu and Kona, Hawaii, during a two-week trip apparently taken by CEO Howard Schultz.
A Starbucks spokeswoman said the company ordered the 19-seat plane three years ago and determined that canceling delivery would be too expensive.
According to marketing material, “the interior is tastefully completed in neutral tones of gray leather and gray cashmere. The Australian Walnut woodwork is high gloss finish and is enhanced with satin nickel plating throughout the aircraft.”
Starbucks has decided to keep only one of its three jets as part of its plan to save $500 million this year, Chief Financial Officer Troy Alstead said Wednesday.
The plane that cost the company an estimated $45 million may be worth as little as $30 million due to plunging market demand.
Earlier this week, Citigroup decided not to take delivery of a $50 million corporate jet after President Obama expressed concern that such a purchase, given the billions of dollars Citigroup has received from the federal government, is not “the best use of money at this point.”
[...] million off of its annual expenses this year by keeping only one of its three corporate jets. Via Luxuo Email This [...]
Starbucks is yielding to the uneducated public misconception that Business aircraft are just luxe transportation for the CEO’s. Corporate aircraft allow a company to grow markets around the world that they could not have without an aircraft. Corporate aviation also puts billions of dollars and many jobs in to the economy. Many people earn their living servicing, manufacturing and flying these aircraft. Business aircraft are business tools that enhance a company’s bottom line.
Totally agree… But … 3 jets ? I mean , hello… i do know it was ordered 3 years ago before the crisis but right now, they have no other option… they hardly use it… just for holidays !
But ok i admit its too easy to blame private jet companies ..