Despite Financial Troubles, BlackBerry Bought a Private Jet in July

Despite Financial Troubles, BlackBerry Bought a Private Jet in July
Image credit: Wikipedia
1 min read
This story originally appeared on Business Insider

The folks who run BlackBerry were apparently among the last to realize how dire the company's situation has become.

In July, at the beginning of a quarter that saw the company lose $1 billion and ended with the announcement that it would fire 40% of its workforce, BlackBerry added a Bombardier Global Express to its private jet fleet, report Will Connors and Mark Maremont of the Wall Street Journal.

Used Global Expresses go for about $25-$30 million, Connors and Maremont report. They can fly from New York to Tokyo without refueling.

The newly acquired plane replaced a smaller jet that BlackBerry sold earlier this year.

A BlackBerry spokesman acknowledged to the Wall Street Journal that the company had taken delivery of the new jet two months ago. The spokesman also said that BlackBerry has now decided to sell all three of its planes on account of its financial challenges.

Related: BlackBerry Inks $4.7 Billion Deal to Go Private

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.

Latest on Entrepreneur