Politics

Citigroup to refuse delivery of new luxury jet after ‘pressure from White House.’

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Yesterday, the New York Post revealed that Citigroup was finalizing the purchase of a brand new $50 million corporate jet, just months after receiving a $45 billion government bailout. Just a day later, however, ABC News reports that Citigroup is backing away from the deal after “pressure from the White House.” While ABC News reports that Citigroup had argued that “it was selling two of its four other planes to pay for this one,” the AP is reporting that the company is now denying that it ever intended to take delivery of the plane.