Spain’s Private Jets Disappearing as Tycoons Cut Flights

As Spain’s housing market boomed in the last decade, real estate tycoons fell in love with the idea of getting to construction sites fast. Developers and other business titans binging on easy credit more than doubled the country’s corporate jet fleet from 2004 to 2009, to 137 planes.

With Spain’s economy in freefall and construction largely halted, that shrank to 115 jets in service by the end of last year even as the Europe-wide fleet expanded, according to aviation data provider Flightglobal.