JACKSONVILLE, Fla. — CSX has shut down its aviation department, which flew corporate jets to whisk railroad executives around the system and elsewhere.
The department, which had been in operation for 84 years and employed pilots and mechanics, was disbanded on Dec. 1, the railroad confirmed.
A spokesman declined to release any details about the move, which comes a little more than two months since new CEO Steve Angel joined the company.
Earlier this month railroad executives said they expected fourth-quarter financial results to be negatively affected by lower than expected coal and automotive shipments.
Here we go again, the hedge fund vultures stepping in and cutting costs with a meat axe. More of this and no one in their right mind would want to merge with them.
Hmmm…does this mean they’re just not doing corporate jets at all? Or (more likely) they’ve contracted out to another company to handle that?