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July 22, 2014

Bumpy ride to recovery for private jet industry

  • Sales at the high end — jets costing $26 million or more — have driven the recovery. Sales of lower priced jets are still struggling.
    • By STEPHEN SINGER
    AP Business Writer

    HARTFORD, Conn. — Private jet sales are rising again, climbing out of a deep recession when the company plane was an easy target for spending cuts.

    The chief executive of General Dynamics Corp., maker of Gulfstream jets, says corporate customers are back and wealth creation is bringing out shoppers for private jets. The president of jet engine maker Pratt & Whitney says deliveries for private planes are growing after hitting bottom in 2011.


     
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