Jet Republic Backs Out of Giant Learjet Deal

Business Jet Traveler » October 2009
Thursday, October 1, 2009 - 5:00am

Startup private jet provider Jet Republic, which planned to launch a fractional share business in Europe, suspended operations at its Portuguese subsidiary in August. As a result, Bombardier announced the cancellation of the order Jet Republic placed last year for 25 Learjet 60XRs, worth $340 million, as well as options for another 85 of the midsize twinjets. Bombardier said it remains committed to the Learjet 60XR program and insists it will not alter its production plans.

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Quote/Unquote

“"I've got a list of corporations that have gotten out of their airplanes [because of criticism from politicians]. It is the stupidest thing I've ever seen. When you look at the time and cost savings; it does not make sense not to fly [privately]. You can't let public perception interfere with your business decision to fly. It either is a good business decision or it isn't."”

-business aviation entrepreneur Nick Popovich