Huge Loss On Sale Of State Jet

New Mexico – New Mexico Republican Gov. Susana Martinez waved goodbye to a state-owned jet she calls the "ultimate symbol of waste and excess." Her administration sold the plane for $2.5 million.

Martinez presented keys to the aircraft to the new owners Thursday, a retired couple from Anchorage, Alaska, at a ceremony at Santa Fe's municipal airport.

The new owners, Robert and Linda Felland, stood next to the governor at the airport news conference the jet as a backdrop with a large "SOLD" sign affixed to it.

The couple and their pilots later took off for Wisconsin, where they also maintain a home.

The twin-engine business jet was purchased new in 2005 by Democratic Gov. Bill Richardson's administration for $5.5 million. Richardson was a frequent flier on the jet, but Martinez never used it.

Copyright 2011 The Associated Press.