You know that French private corporate jet worth $50 million that Citibank said it must buy cos they committed to it many years ago? And which is to be paid with our $45 billion in bail out money?
First off let's get some facts straight.
The 'French private corporate jet' is a Dassault Falcon 7X that cost $47 million USD, not 50. If you don't think that $3,000,000.00 USD is not worth counting fine, why don't you give me 3 millions bucks and I'll let the matter drop.
As I have purchased three Dassault Falcons brand new from the factory, not me personally, but companies I was the chief pilot for, let me inform you on how one pays for these new aircraft. You don't pick up the phone and call Dassault or Gulfstream and say, "Send me one of them there new jet planes and I'll send you a check." (Well at least up to five months ago you couldn't, a little different now.) No, up front, at least 4 years before this Falcon 7X was built you pay at least a 10% down payment. Then when your aircraft starts to be built you pay at least 20% of the cost of the aircraft. By the time your aircraft is ready to be delivered you will have paid at least 60 to 70% of the total price of the aircraft.
This is the case of the Citi Group Falcon 7X. They had already paid for 60 to 70% of the 47 million USD the aircraft cost,
before the so called bail out money.
So now, because of the stupid media, stupid attention hungry whore politicians and others in aviation who should know better it will end up costing the US Tax Payer more money for Citi Group to turn the aircraft back to Dassault.
Why, because the corporate aircraft market is in the cellar. The only way Citi Group will get their money back is if Dassault finds a buyer for the full asking price, which is very doubtful today.
For those of you here that don't believe that companies and individuals should not be allowed to own private jet aircraft, move to Cuba or North Korea.