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Plane speak
The world of business jets is going through some turbulence. Even the big spenders are delaying taking delivery of planes they’ve ordered: RIL’s Global Express XRS and ADAG’s Gulfstream are both on hold. Manufacturers are getting distinctly worried. Inventory taking up space is bad for anyone; when your goods are the size of corporate jets, you’ve got big trouble. Where once these sellers occupied the no-bargaining-no-discounts high ground, they’re now flying down to meet their buyers and working out rather more inviting deals. Anything to free up their hangars. Of course, opportunistic bottom-feeders are making some killings too, picking up planes from cash-strapped corporate houses at much lower than market rates. One hears that Darshan Hiranandani’s Challenger 850, much used by the younger family members to ferry them to their nights out in Europe, went on the block recently. For a third of its purchase price. Poor young ’uns. They’ll have to slum it in First Class now.
