Business and financeGulliver

Private jets are getting cheaper

ONE of the first corporate jets was owned by Harry Ogg, the president of a washing-machine company. Bought in 1929, the four-passenger plane was named “Smilin’ Thru” and was decked out with a desk, a typewriter and space for washing machines. On sales trips Ogg told the pilot to fly low over a town, with the plane’s siren wailing. The commotion drew residents to the airport, where Ogg demonstrated the benefits of his white goods in a slick sales pitch.

Most aspects of corporate jet setting have changed since Ogg’s day. Planes are more likely to be owned by a hedge-fund manager than a white-goods salesman. They are kitted out with televisions rather than typewriters. Moreover, they tend to be too costly for entrepreneurs to use as clever marketing tools. Yet even though such stunts remain a dream for many, their revival may be edging slightly closer. That is because the price of private jets has tumbled in the last few years, Continue reading

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