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Auto bailout and corporate aviation PDF Print E-mail
Wednesday, 10 December 2008 12:01
Lawmakers in Washington Wednesday afternoon  reached a bailout deal for Ford, Chrysler and GM. Part of the draft Ford Logolegislation would require the big three to do away with their aviation programs after the CEO’s show up in Washington a few weeks ago by private jet. The requirement for the corporations to lose their precious jets would probably not have even been thought of had the bad PR been avoided. However, someone is looking out for the car giants. In an attempt to save face for the aviation industry, National Business Aviation Association President Ed Bolen wrote to Speaker of the House Nancy Pelosi on Tuesday to point out the value of corporate aviation. Bolen notes that 86 percent of passengers on corporate aviation are not senior officials, but rather mid-level businessmen sent on trips viable to the company’s interest. “Business aviation is the most prudent and cost-effective transportation solution in a wide number of situations” wrote Bolen. Meanwhile, American Airlines CEO Gerald Arpey is attempting to get the aviation industry in on all the infrastructure investment program being developed by President-elect Obama. “I think the airline industry should certainly be at the top of the list of the industries that are deserving of economic GM logostimulus as it relates to infrastructure...because we have let the infrastructure in aviation deteriorate, both on the ground and in terms of the air traffic control environment” Arpey said in a statement. We call this a barber shop: everyone's getting a hair cut” said Pelosi in a press conference last week. The $14 billion bailout legislation was passed in the House late Wednesday, but has since stalled in the Senate.
Last Updated on Thursday, 11 December 2008 21:06