Time Warner started cutting costs across its Time Inc. publishing division this week and is hoping to save as much as $100 million by paring back expenses and slashing several hundred jobs. One way the company could have made up the difference without sacrificing any of its employees? By selling off the three Gulfstream jets it owns!
We asked our aviation pro what the jets would go for if they were put on the market. The answer: around $95 million all in, although the figure would depend on the condition of the aircraft, how many miles they've flown, and a handful of other factors.
By surrendering the three Gulfstreams, a small group of Time Warner execs would be occasionally forced to fly first-class, yes. But it wouldn't be something they'd have to do all the time. They'd still have one (slightly less luxurious) Raytheon Hawker jet left over.