Automotive industry crisis of 2008–2009

January 27, 2009 - 9:09am

Just as business aviation was girding for a fight over a Troubled Assets Relief Program (TARP) amendment that would have forced companies receiving TARP funds to dispose of their business aircraft, the House of Representatives moved to strike the language from the legislation.

December 29, 2008 - 6:54am

The news that General Motors and Ford are shutting their flight departments has rattled the business aviation community. Some attributed the actions to the sensational media coverage the “Big 3” (General Motors, Ford and Chrysler) executives faced after flying to Capitol Hill in private jets, while others blamed the subsequent $14 billion House bill that called for the distressed companies to sell their aircraft as a condition of the bailout.

 
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