Citi's Jet Gets Downed
Citigroup (C) says it won't take delivery of a new $50 million corporate jet as previously announced. "We have no intent to take delivery of any new aircraft " Citigroup's spokesman Michael J. Hanretta said. Citigroup plans to cut its fleet to 2 planes from 5. The company stressed that no TARP funds would have been used to purchase the French-made Dassault Falcon 7X. "Citi continually explores ways to reduce all its assets including aircraft " Hanretta said in a prepared statement. "Citi is exploring all its options for these assets including the potential sale or lease of the ...
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