Originally published January 28, 2009 at 11:42 AM | Page modified January 28, 2009 at 1:58 PM

Starbucks trying to sell its new jet

Starbucks is trying to sell the new $45 million corporate jet it received from Gulfstream last month.

Seattle Times business reporter

GULFSTREAM AEROSPACE CORP.

Starbucks' new corporate jet is a Gulfstream 550.

Starbucks is trying to sell the $45 million corporate jet it bought last month, along with a seven-year-old Gulfstream that it tried to sell before taking delivery of the new airplane.

Both jets are listed without asking prices by Avpro, an aircraft sales company in Annapolis, Md., the Web site www.Cityfile.com reported earlier today.

The new jet has made only 15 flights, according to the sales documents. Several of those landings were in Honolulu and Kona, Hawaii, during a two-week trip apparently taken by CEO Howard Schultz just after Starbucks took delivery of the airplane.

A Starbucks spokeswoman said the company ordered the jet three years ago and determined that canceling delivery would be too expensive.

Earlier this week, Citigroup decided not to take delivery of a $50 million corporate jet after President Barack Obama expressed concern that such a purchase, given the billions of dollars Citigroup has received from the federal government, is not "the best use of money at this point."

Starbucks is set to release first-quarter earnings after the stock market closes today.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com

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Comments

Not the brightest idea to get the thing in the first place with the excuse that the company had already made payments on it and would lose money...... Posted on January 28, 2009 at 12:09 PM by downtown98033. Jump to comment

Schultz should sell it to someone from Mobilehoma who will promise to keep the jet here, and then act thoroughly flabbergasted when they fly away. Posted on January 28, 2009 at 12:38 PM by moorese. Jump to comment

These corporate jets are all a tax scam from the get-go brought to you by our pals at corporate America and their knee pad-wearing warriors we... Posted on January 28, 2009 at 12:42 PM by brier guy. Jump to comment

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