Boats and jets do not have a lot in common. One stays on the water, while others fly at 35,000 feet above the ground. Nevertheless, there are times where these two different forms of transportation cross paths. Boeing, which has a $13mn superyacht, is selling it, according to reports.
Boeing is selling its superyacht
According to the Puget Sound Business Journal, Boeing’s corporate yacht has been sold for $13 million. Named Daedalus, the yacht is 23 years old and is blue and white. The yacht has reportedly been sold to a California developer.
According to YachtCharterFleet.com, Daedalus is in a luxurious interior configuration. The onboard design has room for 10 guests overnight in five cabins. This is in addition to the seven crew members onboard the vessel. While the boat was built in 1997, it was delivered in 1999 and underwent a retrofit in 2006 with an interior designed by Jonathan Quinn Barnett. Undoubtedly, the inside is highly luxurious to give corporate executives a great experience.
Why does Boeing have a yacht?
Boeing, known for its aircraft lines that begin with the number seven, uses this yacht for a very specific purpose: entertaining customers. While Boeing is a big innovator, it is also an aggressive sales organization with customers worldwide. However, getting all of those customers is not always easy, and that is where this yacht comes in.
Airline executives who are negotiating purchase prices or examining aircraft like to be wooed. In addition to the best deals, airlines also expect a relationship with the aircraft manufacturer to support smooth operations with their planes. As such, a yacht getaway while entertaining key airline executives for a couple of days in the Seattle and Puget-sound area sounds like a great idea to pamper the airline team and give them a chance to take a mini-vacation while on business.
In addition, the yacht also serves as a secondary place to be isolated and conduct business. Lots of airlines like to keep their discussions with aircraft manufacturers private. Aircraft manufacturers also like to keep details, such as purchase prices, which can materially differ from one airline to the next based on things like customer loyalty, the size of the order, and others, secret.
Why is Boeing selling the yacht?
There is no official reason out yet why Boeing sold the yacht, but it is likely for a few different reasons. The boat is getting a little old, and, with the ongoing global health crisis, airline teams are not really looking to travel abroad and go on a yacht trip while mulling a major plane order.
In addition, Boeing has also had some of its own cash crunches. Between the ongoing crisis and the 737 MAX debacle, Boeing is out billions of dollars, and every drop helps. As such, selling the yacht is likely a decision that the company’s accountants thought could work out well. While $13 million is nothing compared to the nearly $3.5 billion in losses just this year alone, every penny helps to shore up liquidity. Plus, when Boeing goes back to profitability, it can always invest in a new yacht.
What do you make of reports that Boeing has sold its yacht? Let us know in the comments!