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RIM plans to flog a jet to raise some cash

Hopes to raise $6m to $7m
Tue Jul 10 2012, 15:15

STRUGGLING PHONE MAKER Research in Motion (RIM) is running out of ideas to raise cash, and has come up with the plan to sell a corporate jet.

The Blackberry maker has said that it will sell one of its two corporate jets to raise between $6m to $7m. The firm is putting its nine passenger Dassault Falcom 50EX on the market, having decided to hang on to its 14 seat model.

In a statement issued to The INQUIRER, RIM said, "We're looking at options with both our aircraft costs and finding ways to reduce our travel while still making sure we keep in close contact with our partners around the world.

"It's all part of the effort to find ways to reduce costs and drive efficiencies that Thorsten Heins has talked about."

This comes after RIM CEO Thorston Heins admitted that he's aiming to save $1bn this year through "significant efficiencies and operating cost reductions," following RIM's announcement of a staggering $518m net loss just weeks ago. This plan includes cutting 5,000 jobs, shutting down a number of manufacturing sites and now, selling a plane.

We think the firm should check under the jet's seats for loose change before it takes an offer, since at this point it sounds like every penny counts. µ


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