Gregor Tarjan, designer of the Aeroyacht 110, a superfast 110-ft. catamaran equipped with an Icon A5 exploration airplane, has commissioned Monegasque yachtbuilder Wally to construct the avant-garde craft. Representing the first model of a sleek, new range "embodying the ultimate high-performance, supremely styled world yacht," the Aeroyacht 110 will be one of the largest composite multihulls in the world. As standard equipment the craft will come fitted with a two seat Icon A5 amphibious, retractable and fold-able sports plane, launched and retrieved from a specially designed pod. The yacht, which is expected to do 35 knots at full speed, will be ready for delivery in 2011.

Embattled Italian airline Alitalia has sold off some of the art that once hung inside its first class cabins and lounges. The Italian national airline filed for bankruptcy last year and this sale was part of the breakup of the assets. A group of Italian investors have continued on with the brand, relaunching it with a new terminal in Rome.

The auction included paintings by Futurist artists like Giacomo Balla and Enrico Prampolini and works by Italian artists. One piece that didn't sell was a Gino Severini piece "Zeus Gave Birth to the Sun" said to be valued at 500,000 euros. That piece may be sold privately. Overall the auction brought in 1.2 million euros.

Private jet travel is back! When we were in the depths of the financial crisis, the best way to fly was a sure way to attract criticism, especially when the Detroit auto executives showed up before Congress a year ago and had to explain why ailing companies were forced to shell out for the perk. Well, the private jets are coming back into style, but it's more for pleasure than business.

Business jet manufacturers delivered only 615 in the first three quarters of 2009, a steep decline of 37.8 percent year-over-year, according to the General Aviation Manufacturers Association. According to Jack Petlon, CEO of Cessna, though, there are signs of life. "With the financial collapse that occurred there was a lot of anger, a lot of hurt, a lot of people reaching out and striking at what became an image and the image was a corporate business jet," he told Forbes. He continued, "We as an industry are now spending our time righting that wrong perception."

Here are four facts you may not have know about business (and private) aviation:

Last month we reported that the glossy chronicle of the filthy rich Robb Report is offering the world's most expensive Christmas gift this year - a matching custom private jet and megayacht set costing $500 million. The profligate publication has a few more eye-popping offerings as part of its Ultimate Gift Guide, a seasonal smorgasbord of over-the-top exclusives. Among the most enticing is a $1.5 million Monaco Grand Prix gift package, consisting of the following: a VIP experience at the 2010 Monaco Grand Prix F1 races in May; round-trip private jet travel from North America to Nice, France, and helicopter transfer from Nice to Monte Carlo for a party of four; five nights' accommodation in the top-floor suite at the luxe Monte Carlo Bay Hotel & Resort; privileges aboard a private 170-ft. yacht that will provide a prime vantage of, and tender service to, four days of racing and activities; and last but not least a custom Spyker C8 Aileron Spyder (above) "as a keepsake".

If you are flying Continental Airlines this holiday season you can leave your cash in your wallet. The airline has announced that starting today, the flight crews will only accept credit and debit cards for on-board purchases (except duty-free purchases). The crew will have new hand-held devices meant to be more convenient for customers.

Continental says the change is a result of customer feedback from those tired of fumbling for money and making correct change. The hand-held devices read cards for purchases of alcoholic beverages and headsets but also provide sales information for the airline to help better manage product inventory. The new cashless system is be available on all Continental Airlines mainline flights, except for service to and from China as Continental is still working on a process for accepting that country's predominant credit card, The China Union Pay card. Cash is still being accepted on Continental Express, Continental Connection and Continental Micronesia flights but plans to switch to a cashless cabin on those flights in the first quarter of 2010.

As our sister blog Daily Finance recently reported, Delta has also switched to the cashless cabin. On the Daily Finance article there is a spirited debate going on in the comments about the legality of banning cash and about whether or not it really is more convenient for the business traveler to use a credit card. It seems likely that the cashless cabin is a trend that will only increase as time goes on. I'm just waiting for the airline iPhone app that lets you pay directly from your phone.

Looking for a really unforgettable Christmas present for that special someone this year? That glossy chronicle of the filthy rich Robb Report has just the thing - a matching custom private jet and megayacht set costing $500 million. The eye-popping present, the world's most expensive, is part of the profligate publication's Ultimate Gift Guide, a seasonal offering of over-the-top exclusives. The recipient will receive an Airbus A380 (above), the world's largest jumbo jet, and a bespoke megayacht, both customized by renowned designer Patrick Knowles. The interiors will complement each other creating what Knowles calls a "custom personal brand" for the lucky owner. There's one catch - considering the backlog on A380 deliveries and the time required to design and build a custom megayacht, the giftee will have to wait at least six years to get their hands on the toys.

Air-France is planning its first cross-Atlantic flight with its shiny new Airbus A380 jumbo jet but not all is rosy for Europe's largest airline. Air France-KLM has announced plans to trim 1,700 jobs next year following a worse-than-expected quarterly loss. The company is blaming the numbers on fuel hedging losses and poor cargo traffic. Passenger revenues were also down 17.2 percent but the effects of that would have been offset partly by a reduction in capacity. Air France-KLM had previously announced earlier cuts so this new staff reduction means that the airline carrier will enact 4,500 job cuts in the year to March 2010, reducing its global workforce to 105,000. Another reduction by March 2011 will trim the workforce by a further three to five percent by March 2011 in an effort to lift profits by 500 million euros for March 2012.

A helpful reader directed us to a rather interesting listing, Donald Trump's personal jet. Trump's flashy Boeing 727-100 has shown up on the Controller website. Lest you have any doubt that it is his, the plane has the Trump T on the tail and a 30-foot Trump logo on the side done in gold leaf. A plane like this usually has 134 seats but this plane was reconfigured to hold just 24 passengers in the lap of luxury.

The 1968 vintage plane was originally operated by American Airlines according to Aviation.com. It has been refurbished with soft beige leather armchairs around a conference table. A separate dining area has seating for five around a wood table and additional seating on an adjacent upholstered sofa. A master bedroom offers a posh place for mid-flight nap.

The listing with AvPro in Maryland says it has new paint and is current with all avionics. It has logged a total of 41,833 hours with 29,664 total landings. Why is Trump selling? Is a new, even more lavish plane in the works, or is Trump, like the rest of us, feeling the pinch of a struggling economy?

UPDATE: CNN Money has a quote from George Sorial from Trump's organization who says that Trump is upgrading to a larger aircraft.

[Thanks, Jay!]

NetJets Inc., the fractional ownership and plane leasing company owned by Warren Buffett's Berkshire Hathaway Inc., has announced major layoffs. Due to a slowdown in business travel and the overall usage of private jets the company is firing 495 pilots.

Bloomberg quotes a statement from David Sokol, NetJets CEO who said that the decision came from looking at current and predicted flight demand. The news comes just around two months after Sokol took over and the company moved back to Columbus, Ohio.

Currently the company owns more planes than it is using. NetJets employs over 3,000 pilots worldwide. The layoffs come after an earlier layoff of 350 non-pilot workers which was announced in September. Some are questioning whether or not the fractional private jet model still has a place in this economy. I think it does but that the scale may be smaller than these companies would like.

Supermodel Gisele Bundchen is on her way to a private pilot's license. Bundchen, who is pregnant with her first child with New England Patriots quarterback Tom Brady, spent the summer taking helicopter flying lessons. She has now passed her private pilot written exam and flies several times a week at Shoreline Aviation in Marshfield, Massachusetts.

You need fewer hours in a helicopter than in a fixed wing plane to get a license and it generally takes over $10,000 to log in the necessary flight hours and experience. She is only a month away from giving birth but she is expected to take her checkride next week. The checkride is the practical test in which she will fly with a pilot examiner and be tested on key skills.

People magazine reported earlier this year that she was interested in learning to fly because she is a goodwill ambassador for the UN's Environmental Programme on finding an alternative source of jet fuel.

Todd Rome co-founded Blue Star Jets in 2001 (with CEO Ricky Sitomer) in response to the inefficiencies in the private jet marketplace. It is now one of the world's largest private aircraft charter brokers, offering an unparalleled level of personalized service; their motto is "Any Jet, Any Time, Any Place." Blue Star Jets grants clients freedom from the financial constraints of fractional jet ownership; the savings of paying only for trips taken; and the flexibility to choose the best aircraft according to a trip's specific budget requirement. With its ShareAJet Exchange, Blue Star Jets has lowered the barrier of entry for the private aviation industry for commercial fliers.

By creating a network of charter companies, Blue Star Jets now has access to over 4,000 aircraft worldwide, ranging from helicopters to Boeing business jets. Prior to Blue Star Jets, Mr. Rome ran a successful broker-dealer firm on Wall Street. He is also Co-Chair of the Diabetes Research Institute, and has made numerous appearances on CNN, CNBC and FOX, among others. When not traveling or working at his office in New York, Mr. Rome enjoys spending time with his family at home in the Hamptons, where Blue Star Jets was one of the key sponsors of the Mercedes-Benz Polo Challenge. In the gallery, Rome reveals his 10 essential luxuries and explains what makes them a must.

You wouldn't think that the Las Vegas to London route would be a popular flight but it seems that rivals British Airways and Virgin Atlantic are in a battle for Vegas supremacy. The first nonstop British Airways flight from London to Las Vegas landed Sunday night at McCarran International Airport. Passengers on the inaugural flight included Las Vegas Mayor Oscar Goodman and British Airways CEO Willie Walsh, who was making his first trip to Las Vegas. The picture above shows the water arch used to honor maiden flights.

British Airways plans to run flights on twin-engine Boeing 777s from London to Las Vegas and they are offering some pretty tempting rates. BNET reports that it costs just $276 for roundtrip economy flights from November 2 to December 20 and December 24 to March 28 if tickets are purchased this week. British Airways' London-Las Vegas flights will have 36 business seats, 24 economy plus seats and 212 regular economy seats. Virgin Atlantic has been doing this run since 2006 but British Airways has the advantage of flying out of Heathrow International Airport while Virgin flies out of the less-centrally-located Gatwick International Airport.

Four people, 400 knots, 1500 nautical miles--that's the slogan of the Stratos 714, a Very Light Jet which I first wrote about a year ago. Aero-News Network has an interview with Alexander Craig, the new CEO of Stratos during the recent NBAA 2009 conference. The company, which is based in Bend, Oregon, is bullish on their Stratos 714 which they say will bridge the gap between VLJ aircraft and full size business jets.

The composite-bodied aircraft will be powered by a centerline-thrust FADEC-controlled Williams FJ44-3AP turbofan which produces 3,030 pounds of thrust at sea level. The company's goal is to create an aircraft that is affordable to own and operate (current price is $2 million). In the interview (video after the jump) Craig doesn't reveal a potential production date for the plane but it appears that progress is being made and we get more news soon.

One good definition of hell: flying 16+ hours in coach. And it's antipodean opposite: flying that long in Qantas business class, which I did a couple of years ago, LAX to Auckland. Not only was I totally comfy in my near lie-flat seat with privacy screen, not only did I totally dig the mood lighting that changed as the trip went on (meant, I think to bring the body clock into some semblance of sync), but I boarded the plane with a bad cold, and I disembarked without it.

Okay, I can't credit the flight with that, per se, but I can almost promise you I wouldn't have been in any kind of reasonable condition had I flown the distance in economy.

From now until October 29th, 2009, you can get into the Qantas business class cabin to Sydney and Brisbane from LAX or SFO for $4,439, and fares from New York (JFK) starting at $4,943. (Travel from 330 days on from the reservation date.) That's about 40% off the regular fair, so if you know you've got travel Down Under up coming in 2010, this is a deal you won't want to miss.

The high flying days are officially over for Lehman Brothers. The Wall Street Journal reports that Lehman Brothers has finally sold off its last private plane, a Gulfstream 550 that it bought for about $40 million in 2006. Lehman Brothers Holdings has already sold off two Gulfstream IVs, a Dassault Falcon 50 and a Sikorsky chopper since filing for bankruptcy last year. The planes were often used to cart Chief Executive Richard Fuld and his team of executives to meetings around the world (and to Fuld's several homes). The firm of Alvarez & Marsal continues to sell off Lehman's assets. So far Lehman raised almost $90 million from selling the planes and helicopter, an amount that the WSJ says is roughly 97 cents to the dollar of their book value (purchase price less depreciation). Not too shabby in this market.