RIM Selling Corporate Jet to Aid in Saving $1 Billion

With Research In Motion under mounting pressure to make a turnaround and save $1 billion in operating costs, they are posed to sell of one of their two nine-passenger Dassault Aviation SA F50EX jets. The sale of the jet is only expected to bring in $6 to 7 Million.

According to a source:

“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,” Waterloo, Ontario-based RIM said in a statement in response to inquiries from Bloomberg. “It’s all part of the effort to find ways to reduce costs and drive efficiencies that Thorsten Heins has talked about.”

We know RIM is trying to save $1 billion this fiscal year through “significant efficiencies and operating cost reductions.” They are attempting to make this adjustment by cutting 5,000 jobs and are working on other options.