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Why young billionaires are looking for bigger private jets than ever before

A private jet available via PrivateFlyFacebook: @PrivateFly We may still be in the middle of a pandemic, but it seems that the super-rich are still investing in luxury aircraft, especially aircraft with engines large enough to enable them to travel transatlantic without the need for stopovers.According to The Telegraph, there has been an increase in younger billionaires seeking larger, far-reaching ones private jets. Jetcraft Owner Jahid Fazal-Karim told the newspaper: 'If you're a technical entrepreneur or CEO who's been successful at a young age, you're more likely to buy a large jet because it fits your lifestyle and the global…

The airport gets a new operator; many upgrades planned

The new fixed base operator at Indianapolis Regional Airport plans to invest in several capital improvements at the facility in Mt. Comfort. (File photo)By Susan Orr | Indianapolis Business JournalMT. COMFORT - Local airline Aero Management Group has acquired the lease to Indianapolis Regional Airport and is planning several capital improvements and the addition of charter services.Mt. Comfort is one of several general aviation airports owned by the Indianapolis Airport Authority, which also owns and operates Indianapolis International Airport.Aero, based in Greenfield, acquired the leasehold rights at the regional airport by acquiring another local company, Indy Jet.Indy Jet had the…

Robinhood’s bid to ‘democratise finance’ collides with Wall St actuality

Robinhood’s bid to ‘democratise finance’ collides with Wall St reality

Robinhood’s ambition to “democratise finance” is about for certainly one of its largest checks after every week of chaotic buying and selling that pushed it to hunt an pressing injection of $1bn and infuriated lots of its most loyal shoppers. The tumult has uncovered the competing priorities the favored buying and selling app faces between pleasing its customers and the realities of working within the closely regulated monetary business.The battle between particular person traders and Wall Avenue hedge funds that reached a peak final Thursday despatched shockwaves by way of the Silicon Valley firm that has come to exemplify the…

BP profits plunge 96% in fourth quarter as pandemic hits fuel demand

BP profits plunge 96% in fourth quarter as pandemic hits fuel demand

BP reported a 96 per cent drop in fourth-quarter profits as the hit to energy demand from the pandemic and weaker trading results took the UK oil major to its first annual loss in a decade. Underlying profit on a replacement cost basis — the measure of income tracked most closely by industry analysts — was $115m in the three months to December 31. This fell short of analyst expectations of a profit of $370m, according to a company-compiled estimate, and compares with $2.6bn in the same period the year before. It has been a brutal year for the industry,…

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