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.

How do you lure a star out of semi-retirement? You start with a big paycheck and then you throw in the perks. This week, savvy casino mogul Steve Wynn drummed up excitement at the Wynn Encore in Las Vegas with the news that Garth Brooks has decided to play a five-year weekend residency at the hotel starting December 11.

Brooks played two secret shows at the hotel this summer. Steve Wynn, a man whose art collection is clear testament to the fact that he is accustomed to getting whatever he wants, began the push to get Brooks at his hotel. Brooks wasn't an easy fish to land and it took more than a big paycheck to get him to the Encore Theater. Wynn threw in the ultimate executive perk, the private jet. When Brooks retired he vowed that he would drive his three daughters to school everyday. The new 11-seat Challenger jet, courtesy of Steve Wynn, will help him honor that promise, making short work of the commute from Oklahoma to Las Vegas. Brooks described the jet to CNN as having a "cool interior, cool paint job."

What does Wynn get out of the deal? Each ticket at the Encore will be $125 and total sales for the shows could bring in millions. But more important than ticket sales is the fact that he will be drawing people to Las Vegas and to Encore, the luxury hotel he opened when the economy was at its worst. Wynn has been in the casino a long, long time and he knows that getting the people in the door can be the hardest part. Having Brooks as an incentive to visit might just be worth the plane and the paycheck.

UPDATE: Tickets for Brooks' first 20 shows at the Wynn Las Vegas resort sold out in less than five hours.

Neiman Marcus just unveiled the 2009 edition of the renowned Christmas Book, offering customers the ultimate in cutting-edge, dream-fulfilling gifts. First published in 1926 as a 16-page booklet, the Christmas Book was initially intended as a Christmas card to the store's best customers and evolved into a legendary source for alluring and mystical gifts. Among the highlights of this year's catalog:

His & Hers Gift Package, $250,000: An ICON A5 sport aircraft with custom trailer and sport pilot license training for two. The ICON A5 is from a world-class team of engineers and designers who helped create the groundbreaking Virgin Global Flyer, and features an amphibious hull and landing gear to take off and land just as easily on water as on land.

Algonquin Round Table Experience, $200,000: Exclusive dinner party at NYC's legendary Algonquin Hotel (above) with guests including Christopher Buckley, Roz Chast, Nora Ephron, Malcolm Gladwell, Henry Louis Gates Jr., Adam Gopnik, John Lithgow, Anna Deavere Smith and George Stephanopoulos. Proceeds to benefit First Book, the 2009 Christmas Book Charity.

2010 Jaguar XJL Supercharged Neiman Marcus Edition, $105,000: Limited to only 50 examples, the bespoke version of Jag's new flagship features a supercharged 5-liter V8 that delivering 470 hp, a custom interior of butter-soft navy and ivory leather and Zebrano matte wood accents, and includes a five-piece set of matching Jaguar luggage in navy blue leather.

HALL Artisan Wine and Art Experience, $20,000: Learn organic, artisan winemaking firsthand, tour the estates in Napa and the art collection, and have the opportunity to create your own personal vintage in a private blending session with HALL's Winemaker with a custom vintage bottled for you. Includes accommodations at Auberge and a private dinner party with Ambassador Kathryn Hall.

Maker's Mark Master Distiller Experience, $7,500: All-access, VIP experience with Maker's Mark Master Distiller, Kevin Smith. Spend a day making whiskey, step by step and take home two bottles of the rarest Maker's Mark – golden bottles etched with your likeness and dipped in gold wax with 24-kt gold flecks. Includes luxury accommodations in Louisville and a gourmet dinner hosted by Bill Samuels, the 7th generation of Maker's Mark.

Get In The Christmas Spirit With AOL Radio's 10 Best Christmas Songs.

When it comes to flying cars, it looks like the Transition from Terrafugia might be one of the ones most likely to actually be available to consumers soon. We've been following this story for a couple of years along with some other projects but the engineers behind this one have persevered where others have failed.. In 2006 some graduate students at the Massachusetts Institute of Technology began working on the Transition Personal Air Vehicle. The two-seater craft can go from being a plane to a car in less than 30 seconds. The wings can be quickly folded and stowed for road use. In the sky it can cruise up to 450 miles at over 115 mph.

Aero-News Network reports that the Terrafugia Transition prototype has had completed the first phase of its four-stage test program, logging in 28 flights. The second prototype will take into account all modifications deemed necessary after the first phase. Terrafugia is still planning first delivery for 2011 and the projected purchase price is $194,000. Check out an Aero-News video of the Terrrafugia Transition after the jump.

Destination club Ultimate Escapes has sweetened the deal to attract new members. They are now offering new club members free airfare for a year to any Ultimate Escapes destinations. By purchasing a membership between now and December 31, 2009, new members, their families, and friends will be able to fly at no cost to more than 150 Ultimate Escapes destinations worldwide on the airline of their choice. Airfare is paid for the first year of membership, or up to $25,000.

The club offers multi-million dollar homes in desirable destinations across the world from ski towns to beaches and cities located throughout Central and North America, the Caribbean, and Europe, There are three tiers of membership: Premiere entitles you to homes with an average value of $1 million, Signature membership offers homes valued at around $2 million and Elite membership includes stays in home with an average value of $3 million. Within each tier there are bronze, silver, gold, platinum and platinum plus levels of membership with escalate in price based on the amount of days. A Premier Silver membership costs $95,000 plus one year membership dues of $9,500.

I think it takes a lot of courage to start a small air charter business at a time when taking a private charter has become a shorthand symbol of corporate greed and worse. But the allure of a private charter, of being able to skip the slog of commercial flying, continues to attract many. Kavoo, a new company out of Danbury, Connecticut, hopes to attract flyers in need of a little relief.

Kavoo's fleet includes an 8-passenger King Air 200 and Cirrus SR-22 single-engine planes. The company is owned by Curtis Brunjes and Richard Humphrey, who are also owners of Curtiss Aero, a two-year-old aviation maintenance shop and flight school located next to Kavoo at the Danbury Airport. When air travelers require larger aircraft including jets to get them to farther destinations faster, Kavoo plans to be its customers' single point of contact for all of their air charter needs through its extensive preferred provider network.

I recently chatted with Garrison Leykam, the Director, New Business Development for Kavoo.Leykam, whose career includes a long history in both travel and the music industries wants to take the independent spirit of smaller record labels and apply it to flying offering passengers the benefits of personalized service. I had a few questions for Leykam on the future of the charter industry, flying in general and why flying private can, in some cases, make financial sense.

First of all, why the name Kavoo?

Kavoo is a takeoff on the aviation term "cavu" meaning "ceiling and visibility unlimited;" the ideal flying conditions in which there are neither large clouds nor haze. Using the new spelling of Kavoo not only gives us a unique branding identity but it also extends the meaning to reinforce our vision of Kavoo as the new generation of air charter.

It's pretty daring to start an airline charter business at time when many others have flamed out, what do you think will help Kavoo succeed where others have failed?

Thousands of air taxi services are operating with a single airplane in a confined geographic area whereas Kavoo is pursuing national branding of its services. Our founders, Curtis Brunjes and Richard Humphrey, have enabled Kavoo to operate debt free without a capital investment in a huge fleet of aircraft. Our ability to create a national footprint is built upon utilizing planes owned by others on a revenue share platform. It's a win-win all around. More buyers can purchase planes with Kavoo helping them to offset their operating costs and Kavoo grows its fleet. The ultimate winner is the Kavoo customer whose choices of when and where to fly with us grow exponentially.

What do you see as the future of private jet travel, do you think it will return to the rate it was at prior to the recession?

I believe that the future of private jets will continue to be a very important mode of transportation for a specific market segment. There has been a recent decline in jet travel due to a combination of economic pressure and public scrutiny. But, I truly believe that this segment will bounce back. Most importantly, private jet travel needs to be deployed in an economic way, namely, toward smaller size aircraft. Right now, a properly-sized VLJ doesn't exist in the marketplace but it's coming. As this occurs, we'll see an increase in the number of operations as opposed to the number of seats and truly small jets will do well.