From: Eric Roth To: Cc: Subject: FW: CEO-Class Private Jets Go Begging for Buyers, Crushing Prices - Bloomberg Sent Monday, May 23, 2016 4:18:10 PM imacte004.jpg imaGe005.10fl imafle006.ilxl Jeffrey, Thought you might find the article interesting. Eric http://www.bloomberg.cominews/articles/2016-05-23/ceo-class-private-jets-go-begging-for- buyers-crushing-prices CEO-Class Private Jets Go Begging for Buyers, Crushing Prices 2016-05-23 09:00:00.8 GMT By Thomas Black (Bloomberg) — The private jet Janine lannarelli is selling for a Russian client has leather seats, wood paneling, a satellite phone and can fly nonstop from Tokyo to Los Angeles. The price has dropped $3 million since September and is still falling. lannarelli today is hawking the 10-year-old Bombardier Global 5000 for $14.5 million but recommends that her client cut the price further as the market for large-cabin business jets keeps weakening. A new Global 5000 lists for $50.4 million. "There's absolutely no evidence of a recovery on the horizon," says lannarelli, founder of Houston-based aircraft brokerage Par Avion Ltd. "None of the jet models has hit bottom." Rarely seen bargains abound for big corporate aircraft as tumbling oil wealth, a stronger dollar and a downturn for emerging-market giants from Brazil to Russia cripple demand. As owners from foreign tycoons to Archer-Daniel-Midlands Co. try to sell their planes, Bombardier Inc., General Dynamics Corp.'s Gulfstream unit and other planemakers are cutting output and chopping list prices to cope with a glut of new and used business jets. Former Prize The slump extends even to the Gulfstream G650 — just two years ago an aircraft so coveted by well-heeled buyers that some would pay $10 million above list for a used jet rather than wait four years for a new model. Now there are 19 G650s for sale, about 11 percent of the global fleet in operation. One 2013 EFTA_R1_00025498 EFTA01738257