Business Jet operator folds after failed Mid East promotion

Last week the company’s CEO Jonathan Breeze said he was
But instead, this morning the company declared itself insolvent and suspended operations. A spokesperson at the Portuguese registered head office said that “...the aviation asset finance market has completely dried up making it much more difficult for potential clients to take out and obtain financing for fractional ownership of jets. We have therefore taken the decision to suspend our operations in
The company was unable to say how many Middle Eastern customers had taken up the new offers, nor what would happen with any commitments made.
Launched in September 2008,
That order was cancelled by Bombardier this afternoon.
The
Although based in
Bombardier said today that it has terminated its firm and conditional order purchase agreement with
The Canadian manufacturer in a statement said it remains committed to the Learjet 60 XR program and production of the aircraft at its Learjet facility in
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