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Learjet, the private plane synonymous with the jet-set, nears end of runway Reuters 2/15/2021
MONTREAL, Feb 15 (Reuters) - Learjet, the sleek private jet used by celebrities for decades, is ending production this year, following a slump in demand due to competition from newer and less-expensive rivals.
Long before COVID-19 hit demand in 2020, the arrival of less-expensive similar-sized models from Embraer SA and Textron Inc s Cessna eroded Learjet demand.
Created by American entrepreneur Bill Lear, the Learjet 23 first took off from Wichita, Kansas in 1963, forging a new market for modern business aircraft with owners like Frank Sinatra, while shattering speed records.
Some 3000 Learjets, which seat up to nine passengers, have since taken to the skies with a bullet-shaped nose, capable of flying close to the speed of sound at Mach 0.81.
Latest travel rules also hitting business trips-execs Business aviation group seeks exemption for essential travel Manufacturing group wants clarity on rules
MONTREAL, Feb 5 (Reuters) - Canada’s latest move to limit inbound flights to four airports as it seeks to curb the spread of COVID-19 from leisure travel, is spilling over to business trips and fueling uncertainty which could delay economic recovery, industry executives said.
Canada, which already has some of the world’s toughest air travel and quarantine rules, is bringing in new restrictions aimed at people returning from overseas vacations.
Passengers arriving from abroad face new requirements such as mandatory airport COVID-19 tests and hotel quarantines for up to three days, Prime Minister Justin Trudeau said last week.
Global business travel to grow 21% in 2021, trade group forecasts
People take photos of a business class cabin replica during a guided tour at the Singapore Airlines Training Centre in Singapore
(Reuters) – Business travel spending is forecast to grow 21% this year worldwide, helped by the rollout of COVID-19 vaccines, but will not recover to pre-pandemic levels until the middle of the decade, a business travel association said on Tuesday.
Spending on business travel is projected to rise to $842 billion in 2021, according to the Global Business Travel Association’s (GBTA) BTI Outlook, after dropping 52% in 2020 to $694 billion due to the pandemic.
After a decade of steady annual growth, business travel is expected to have shown losses in 2020 that were 10 times greater than the declines after the Sept. 11, 2001, attacks or the 2008 recession, GBTA said.