News Column

BlackBerry Bought Executive Jet Ahead of Mass Layoff, Sale

September 23, 2013

Global Data Point

The 4,500 staff being made redundant by Canada's BlackBerry may be less than pleased with revelations that the loss making company splashed out nearly $30 million on a new executive jet.

Canadian aircraft-registry records revealed over the weekend that the company bought a 2006 Bombardier Global Express aircraft in July. They typically sell for US$25-29 million.

The company sold one of its three corporate jets last year to cut costs, leaving it with two aging Dassault Falcon jets. The Bombardier purchase was intended to be a replacement for the two older planes.

The company now says that it plans to sell all three executive jets to cut costs.

"In light of the company's current business condition," company spokesman Adam Emery said in a statement, "the company has decided to sell that aircraft along with the two legacy aircraft and will no longer own any planes."

While executive jets are often not that expensive in terms of time saved for their users, the news mirrors the fuss caused during the recession when US motor manufacturers arrived in Washington DC to plead for tax payer support -- and arrived in executive jets, which was seen as insensitive to public opinion.

(c) 2013 Global Data Point. All Rights Reserved. Provided by an company

Original headline: BlackBerry Bought Executive Jet Ahead of Mass Redundancies

Source: (c) 2013 Global Data Point. All Rights Reserved.

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