Bank of America is selling three corporate jets from its fleet, as well as a helicopter acquired through its purchase of Merrill Lynch, the company said Wednesday. The bank is also believed to be trying to sell one of its corporate apartments in New York. The dramatic downsizing came on a day when BofA’s share price dipped below $5 for the first time since 1990, raising questions about whether the bank would need yet another infusion of federal funds. BofA received $25bn in public funds last year, and another $20bn last month in order to complete its purchase of Merrill.

This entry was posted by Gwen Robinson on Thursday, February 5th, 2009 at 5:43 and is filed under Capital markets. Tagged with BofA, merrill lynch. Edit this entry.