Citgroup, which has received $45 billion in bailout money from the U.S. government, said it no longer plans to take delivery of a $50 million corporate jet it planned to buy. The jet on order wasn’t even a U.S. built one. According to the New York Post on Monday, Citigroup had ordered a new Dassault Falcon 7X business jet two years ago. On Monday, the New York Post said it planned to take possession of the new corporate jet, even after receiving billions in support from the federal government.
With all the backlash and a concerns from politicians worried about how banks receiving federal funds are spending the money, Citigroup is changing its tune, the Associated Press said today. “Citi has no intent to take delivery of any new aircraft,” it said in a statement.
