Harrington Joins the Jet Set
Triple Major winning Padraig Harrington has joined the jet set in buying his own private jet. The Irishman is believed to have paid an estimated $US 2m to purchase a 13-seat Gulfstream G3 but believed to be more than 20-years old.
The 39-year old Harrington has been looking for a jet for several years to ease the pain of his frequent transatlantic trips to play on the US PGA Tour. Harrington had hoped to buy a jet following his two Major wins in 2007 and in 2008 but was put off by the expense.
In June 2009, Harrington is reported as saying: “Warren Buffett calls his plane ‘The Great Unjustifiable’ and I don’t think I will be able to justify it either. I am still saving and the market is very good for that now. So even though the airplane market has fallen in price by the guts of 40 percent, everyone has a different outlook on risk now. While it is probably a good time to buy and the market has come down, I am a bit more risk averse than I would have been a year ago. I might have bought a plane for more money a year ago with what I have now, but I am a bit more skeptical now because of the global market.”
With the worldwide economy still in crisis it seems Harrington could not resist the opportunity to get in at the bottom of the market. However, the biggest expense for Harrington is not just their price but the cost of piloting, servicing and fuelling the craft. It will mean Harrington have to pay all the costs of two pilots along with the price of jet fuel, which is currently $US 2.99 a gallon and having soared 58 percent since last summer’s low of $US 1.89 a gallon.
Harrington has already made good use of his new purchase, arriving home to Dublin less than 12 hours after his recent first round defeat to Geoff Ogilvy in the WGC-Accenture Match Play Championship in Arizona. His fellow pros owning private jets include Ogilvy and Tiger Woods.Written by Bernie McGuire
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