Bombardier won the biggest business-jet deal in its history with luxury air-charter company VistaJet Holding, exceeding a transaction five months ago with Warren Buffett’s plane-leasing unit.
VistaJet ordered 56 Global-series aircraft and took options for 86 more as it taps Asian demand. The deal has a value of $3.1 billion, which would rise to $7.8 billion should all the planes be taken, Bombardier said Tuesday in a statement. Bombardier shares gained the most since June. The agreement marks a second significant win for Bombardier, which in June reached a $7.3 billion agreement for as many as 275 of its Challenger aircraft with the NetJets unit of Buffett’s Berkshire Hathaway. Interior Department close to revised rules for leased tribal lands
The Interior Department says it is close to finalizing land lease regulations that will speed up economic development on tribal lands.
The new regulations mark the first changes in a half-century to the rules tribes must follow to develop land held in federal trust. Current rules require department approval to build homes or undertake other development. Interior Secretary Ken Salazar says the agency believes American Indian tribes should exercise greater control over their land. The rules also set deadlines for approval of leases. President Barack Obama signed a bill in July giving tribes authority to approve leases on their land if their leasing regulations comply with the agency’s new leasing rules.